Sec. 70107. Extension of increased alternative minimum tax exemption amounts and modification of phaseout thresholds
Official source: Public Law 119-21, Section 70107 — 139 Stat. 162-163.
(a) In General.—
Section 55(d)(4) is amended—
(1) in subparagraph (A), by striking “
, and before January 1, 2026
”, and
(2) by striking “
and Before 2026
” in the heading.
(b) Modification of Inflation Adjustment.—
Section 55(d)(4)(B) is amended—
(1) by striking “
” and inserting “
2018 (2026, in the case of the $1,000,000 amount in subparagraph (A)(ii)(I))
”, and
(2) by striking “
determined by substituting ‘calendar year 2017’ for ‘calendar year 2016’ in subparagraph (A)(ii) thereof.
” and inserting
“determined by substituting for ‘calendar year 2016’ in subparagraph (A)(ii) thereof—
“(1) ‘calendar year 2017’, in the case of the $109,400 amount in subparagraph (A)(i)(I) and the $70,300 amount in subparagraph (A)(i)(II), and
“(2) ‘calendar year 2025’, in the case of the $1,000,000 amount in subparagraph (A)(ii)(I).”
.
(c) Modification of Phaseout Amount.—
Section 55(d)(4)(A)(ii) is amended by striking “
and
” at the end of subclause (II), and by adding at the end the following new subclause:
“(IV) by substituting ‘50 percent’ for ‘25 percent’, and”
.
(d) Effective Date.—
The amendments made by this section shall apply to taxable years beginning after December 31, 2025.