CD interest = 5100
CA tax on interest = 5100*.093 = 474.30
US tax on interest = (5100-474.3)*.28=1295.20
after tax from CD= 5100-474.30-1295.2 = 3330.5
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Don't you deduct your California taxes on your Federal return? If so that would mean you have an additional 474.30*.28=132.80
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Not if AMT applies. There's no deduction for taxes for AMT purposes. And I noted that the federal rate quoted, 28%, is the upper AMT rate.

Bill