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DearEducators, DonateLifeNorthCarolinaisverygratefulforyourpartnershipinhelpingtoeducateteensabout ! “#$% “#& '()* “+, '$)) “., / '$0. “)1#$1#+ '2/ '3/ “+4 ', '.451+,4. '$+ '$ '! “#

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What is 'AMP'?

AMP stands for Alternative Minimum Tax, which is a separate tax computation that ensures that individuals and corporations pay at least a minimum amount of tax, regardless of deductions or credits.

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The purpose of 'AMP' is to prevent high-income earners from using loopholes to avoid paying taxes, ensuring they contribute a fair share of tax revenue.

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Taxpayers must report their income, adjustments, preferences, and other relevant financial information that affects AMT liability on the 'AMP' forms.

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