I wonder whether there is a link between regular tax rate and
the AMT. Because the AMT is used to force some minimal tax, therefore, AMT would not allowed someone pay less than the regular rate. This is the regular rate:
- 10%on taxable income from $0 to $17,000, plus
- 15%on taxable income over $17,000 to $69,000, plus
- 25%on taxable income over $69,000 to $139,350, plus
- 28%on taxable income over $139,350 to $212,300, plus
- 33%on taxable income over $212,300 to $379,150, plus
- 35%on taxable income over $379,150.
Keep in mind that the first 74450 is not subject to AMT, and part of your number (X) covers this 74450.