Ia Form 4626 - Iowa Alternative Minimum Tax - 2016
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22016 IA Corporate Form 4626
Iowa Alternative Minimum Tax
https://tax.iowa.gov
Corporate Name
FEIN
Ending Tax Period (mm/dd/yy) _____ / _____ / _____
All totals are from federal form 4626 except as noted. Federal form 4626 must be enclosed.
Enter Whole Dollars
1.
Income subject to apportionment from line 10, IA 1120 ............................ 1.
2.
Total adjustments and preferences ........................................................... 2.
3.
Preferences not applicable for Iowa
a. Depletion ............................................................... 3a.
b. Tax exempt interest from Private Activity Bonds ... 3b.
c. Total. Add lines 3a and 3b ............................................................... 3c.
4.
Total Iowa Tax Preferences. Subtract line 3c from line 2. ......................... 4.
5.
Total of lines 1 and 4 ................................................................................ 5.
6.
Adjusted Current Earnings Adjustment. See instructions ........................ 6.
7.
Total of lines 5 and 6 ................................................................................ 7.
8.
Iowa Percentage from line 11, IA 1120 ...................................................... 8.
9.
Income Apportioned to Iowa. Multiply line 7 by line 8 .............................. 9.
10.
Iowa Nonbusiness Income from line 13, IA 1120 .................................... 10.
11.
Add lines 9 and 10 .................................................................................. 11.
12.
Iowa Alternative Minimum Tax Net Operating Loss. Total from IA
Form G, column E. Limited to 90% of line 11 ........................................ 12.
13.
Iowa Alternative Minimum Taxable Income before Exemption.
Subtract line 12 from line 11 ................................................................... 13.
14.
Exemption. See instructions .................................................................. 14.
15.
Iowa Alternative Minimum Taxable Income Subject to Tax.
Subtract line 14 from line 13. If less than zero, enter zero ...................... 15.
16.
Iowa Tentative Minimum Tax. Multiply line 15 by 7.2% ........................ 16.
17.
Iowa Regular Tax from line 17, IA 1120 ................................................. 17.
18.
Iowa Alternative Minimum Tax. Subtract line 17 from line 16 but
not below zero. Enter on line 18, IA 1120 ............................................... 18.
42-003a (09/28/16)
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