AMT is the acronym for Alternative Minimum Tax. AMT’s refer to a tax mechanism that calculates taxable income after certain deductions and tax preferences are made. The AMT ensures that high-income individuals and entities pay a certain amount of income despite any potential favorable tax treatment.
See e.g., American Sav. Bank v. Michael 477 N.E.2d 430 (1985)
[Last updated in June of 2022 by the Wex Definitions Team]