There's no deduction for taxes for AMT purposes. And I noted that the federal rate quoted, 28%, is the upper AMT rate.I decided to leave AMT out of my explanation because it was getting too long. You are right that state taxes are not deductible for AMT. We have often had to pay AMT because CA taxes are so high.I don't think markr33 understands AMT. http://boards.fool.com/Message.asp?mid=25059979Vickifool
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