ALTERNATIVE MINIMUM TAX Definition

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ALTERNATIVE MINIMUM TAX (AMT) is an alternative tax which includes certain tax preference items that are added back into adjusted gross income. If higher than the regular tax, then the regular tax plus the amount by which AMT exceeds the regular tax is paid.

Learn new Accounting Terms

DIRECT LABOR BUDGET is a budget of planned expenditures for direct labor. The direct labor budget indicates the rate per hour and the number of hours necessary to meet production requirements. See OPERATING BUDGET.

SETTLEMENT DATE, in securities, is the date agreed upon by the parties to a transaction for the payment of funds and the delivery of securities.

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