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Internal Revenue Code · 26 U.S.C.

§ 55. Alternative minimum tax imposed

In force Text current through Public Law 119-121 (October 9, 2026) release point 119-121

Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).

Cite as 26 U.S.C. § 55

At a glance

Read from the text, the source credit and the official notes. Not part of the law.

Status
In force
Added
October 22, 1986 by Pub. L. 99–514
Last amended
July 4, 2025 by Pub. L. 119–21
Amendments
29 dated changes in the source credit
Length
4 subsections · 2,026 words · about 9 min to read
Defines
5 terms
Cross-references
cites 17; cited by 27 Code sections and 31 other regulations
Regulations
1 issued under this section
(a) General rule There is hereby imposed (in addition to any other tax imposed by this subtitle) a tax equal to the excess (if any) of—
(1) the tentative minimum tax for the taxable year, over
(2) the regular tax for the taxable year plus, in the case of an applicable corporation, the tax imposed by section 59A.
(b) Tentative minimum tax For purposes of this part—
(1) Noncorporate taxpayers In the case of a taxpayer other than a corporation—
(A) In general The tentative minimum tax for the taxable year is the sum of—
(i) 26 percent of so much of the taxable excess as does not exceed $175,000, plus
(ii) 28 percent of so much of the taxable excess as exceeds $175,000.
The amount determined under the preceding sentence shall be reduced by the alternative minimum tax foreign tax credit for the taxable year.
(B) Taxable excess

For purposes of this subsection, the term “taxable excess” means so much of the alternative minimum taxable income for the taxable year as exceeds the exemption amount.

(C) Married individual filing separate return

In the case of a married individual filing a separate return, subparagraph (A) shall be applied by substituting 50 percent of the dollar amount otherwise applicable under clause (i) and clause (ii) thereof. For purposes of the preceding sentence, marital status shall be determined under section 7703.

(D) Alternative minimum taxable income The term “alternative minimum taxable income” means the taxable income of the taxpayer for the taxable year—
(i) determined with the adjustments provided in section 56 and section 58, and
(ii) increased by the amount of the items of tax preference described in section 57.
If a taxpayer is subject to the regular tax, such taxpayer shall be subject to the tax imposed by this section (and, if the regular tax is determined by reference to an amount other than taxable income, such amount shall be treated as the taxable income of such taxpayer for purposes of the preceding sentence).
(2) Corporations
(A) Applicable corporations In the case of an applicable corporation, the tentative minimum tax for the taxable year shall be the excess of—
(i) 15 percent of the adjusted financial statement income for the taxable year (as determined under section 56A), over
(ii) the corporate AMT foreign tax credit for the taxable year.
(B) Other corporations

In the case of any corporation which is not an applicable corporation, the tentative minimum tax for the taxable year shall be zero.

(3) Maximum rate of tax on net capital gain of noncorporate taxpayers The amount determined under the first sentence of paragraph (1)(A) shall not exceed the sum of—
(A) the amount determined under such first sentence computed at the rates and in the same manner as if this paragraph had not been enacted on the taxable excess reduced by the lesser of—
(i) the net capital gain; or
(ii) the sum of—
(I) the adjusted net capital gain, plus
(II) the unrecaptured section 1250 gain, plus
(B) 0 percent of so much of the adjusted net capital gain (or, if less, taxable excess) as does not exceed an amount equal to the excess described in section 1(h)(1)(B), plus
(C) 15 percent of the lesser of—
(i) so much of the adjusted net capital gain (or, if less, taxable excess) as exceeds the amount on which tax is determined under subparagraph (B), or
(ii) the excess described in section 1(h)(1)(C)(ii), plus
(D) 20 percent of the adjusted net capital gain (or, if less, taxable excess) in excess of the sum of the amounts on which tax is determined under subparagraphs (B) and (C), plus
(E) 25 percent of the amount of taxable excess in excess of the sum of the amounts on which tax is determined under the preceding subparagraphs of this paragraph.
Terms used in this paragraph which are also used in section 1(h) shall have the respective meanings given such terms by section 1(h) but computed with the adjustments under this part.
(c) Regular tax
(1) In general

For purposes of this section, the term “regular tax” means the regular tax liability for the taxable year (as defined in section 26(b)) reduced by the foreign tax credit allowable under section 27(a).11 See References in Text note below. Such term shall not include any increase in tax under section 45(e)(11)(C), 49(b) or 50(a) or subsection (j) or (k) of section 42.

(2) Coordination with income averaging for farmers and fishermen

Solely for purposes of this section, section 1301 (relating to averaging of farm and fishing income) shall not apply in computing the regular tax liability.

(3) Cross references

For provisions providing that certain credits are not allowable against the tax imposed by this section, see sections 30C(d)(2) and 38(c).

(d) Exemption amount For purposes of this section—
(1) Exemption amount for taxpayers other than corporations In the case of a taxpayer other than a corporation, the term “exemption amount” means—
(A) $78,750 in the case of—
(i) a joint return, or
(ii) a surviving spouse,
(B) $50,600 in the case of an individual who—
(i) is not a married individual, and
(ii) is not a surviving spouse,
(C) 50 percent of the dollar amount applicable under subparagraph (A) in the case of a married individual who files a separate return, and
(D) $22,500 in the case of an estate or trust.
For purposes of this paragraph, the term “surviving spouse” has the meaning given to such term by section 2(a), and marital status shall be determined under section 7703.
(2) Phase-out of exemption amount The exemption amount of any taxpayer shall be reduced (but not below zero) by an amount equal to 25 percent of the amount by which the alternative minimum taxable income of the taxpayer exceeds—
(A) $150,000 in the case of a taxpayer described in paragraph (1)(A),
(B) $112,500 in the case of a taxpayer described in paragraph (1)(B), and
(C) 50 percent of the dollar amount applicable under subparagraph (A) in the case of a taxpayer described in subparagraph (C) or (D) of paragraph (1).
In the case of a taxpayer described in paragraph (1)(C), alternative minimum taxable income shall be increased by the lesser of (i) 25 percent of the excess of alternative minimum taxable income (determined without regard to this sentence) over the minimum amount of such income (as so determined) for which the exemption amount under paragraph (1)(C) is zero, or (ii) such exemption amount (determined without regard to this paragraph).
(3) Inflation adjustment
(A) In general In the case of any taxable year beginning in a calendar year after 2012, the amounts described in subparagraph (B) shall each be increased by an amount equal to—
(i) such dollar amount, multiplied by
(ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting “calendar year 2011” for “calendar year 2016” in subparagraph (A)(ii) thereof.
(B) Amounts described The amounts described in this subparagraph are—
(i) each of the dollar amounts contained in subsection (b)(1)(A),
(ii) each of the dollar amounts contained in subparagraphs (A), (B), and (D) of paragraph (1), and
(iii) each of the dollar amounts in subparagraphs (A) and (B) of paragraph (2).
(C) Rounding

Any increased amount determined under subparagraph (A) shall be rounded to the nearest multiple of $100.

(4) Special rule for taxable years beginning after 2017
(A) In general In the case of any taxable year beginning after December 31, 2017—
(i) paragraph (1) shall be applied—
(I) by substituting “$109,400” for “$78,750” in subparagraph (A), and
(II) by substituting “$70,300” for “$50,600” in subparagraph (B),
(ii) paragraph (2) shall be applied—
(I) by substituting “$1,000,000” for “$150,000” in subparagraph (A),
(II) by substituting “50 percent of the dollar amount applicable under subparagraph (A)” for “$112,500” in subparagraph (B),
(III) in the case of a taxpayer described in paragraph (1)(D), without regard to the substitution under subclause (I), and
(IV) by substituting “50 percent” for “25 percent”, and
(iii) subsection (j) of section 59 shall not apply.
(B) Inflation adjustment
(i) In general In the case of any taxable year beginning in a calendar year after 2018 (2026, in the case of the $1,000,000 amount in subparagraph (A)(ii)(I)), the amounts described in clause (ii) shall each be increased by an amount equal to—
(I) such dollar amount, multiplied by
(II) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, 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).
(ii) Amounts described

The amounts described in this clause are the $109,400 amount in subparagraph (A)(i)(I), the $70,300 amount in subparagraph (A)(i)(II), and the $1,000,000 amount in subparagraph (A)(ii)(I).

(iii) Rounding

Any increased amount determined under clause (i) shall be rounded to the nearest multiple of $100.

(iv) Coordination with current adjustments

In the case of any taxable year to which subparagraph (A) applies, no adjustment shall be made under paragraph (3) to any of the numbers which are substituted under subparagraph (A) and adjusted under this subparagraph.

(Added and amended Pub. L. 99–514, title II, § 252(c), title VII, § 701(a), Oct. 22, 1986, 100 Stat. 2205, 2321; Pub. L. 100–647, title I, §§ 1002(l)(27), 1007(a), Nov. 10, 1988, 102 Stat. 3381, 3428; Pub. L. 101–508, title XI, §§ 11102(a), 11813(b)(5), Nov. 5, 1990, 104 Stat. 1388–406, 1388–551; Pub. L. 102–318, title V, § 521(b)(1), July 3, 1992, 106 Stat. 310; Pub. L. 102–486, title XIX, § 1913(b)(2)(D), Oct. 24, 1992, 106 Stat. 3020; Pub. L. 103–66, title XIII, § 13203(a)–(c)(1), Aug. 10, 1993, 107 Stat. 461, 462; Pub. L. 104–188, title I, §§ 1205(d)(6), 1401(b)(3), 1601(b)(2)(A), Aug. 20, 1996, 110 Stat. 1776, 1788, 1832; Pub. L. 105–34, title III, § 311(b)(1), (2)(A), title IV, § 401(a), title XVI, § 1601(f)(1)(C), Aug. 5, 1997, 111 Stat. 834, 835, 843, 1090; Pub. L. 105–206, title VI, §§ 6005(d)(2), 6006(a), July 22, 1998, 112 Stat. 804, 806; Pub. L. 107–16, title VII, § 701(a), (b), June 7, 2001, 115 Stat. 148; Pub. L. 108–27, title I, § 106(a), title III, § 301(a)(1), (2)(B), (b)(2), May 28, 2003, 117 Stat. 755, 758; Pub. L. 108–311, title I, § 103(a), title IV, § 406(d), Oct. 4, 2004, 118 Stat. 1168, 1189; Pub. L. 108–357, title III, § 314(a), Oct. 22, 2004, 118 Stat. 1468; Pub. L. 109–58, title XIII, §§ 1302(b), 1322(a)(3)(H), 1341(b)(3), 1342(b)(3), Aug. 8, 2005, 119 Stat. 991, 1012, 1049, 1051; Pub. L. 109–135, title IV, §§ 403(h), 412(p), Dec. 21, 2005, 119 Stat. 2624, 2638; Pub. L. 109–222, title III, § 301(a), May 17, 2006, 120 Stat. 353; Pub. L. 110–166, § 2(a), Dec. 26, 2007, 121 Stat. 2461; Pub. L. 110–234, title XV, § 15311(b), May 22, 2008, 122 Stat. 1503; Pub. L. 110–246, § 4(a), title XV, § 15311(b), June 18, 2008, 122 Stat. 1664, 2265; Pub. L. 110–343, div. C, title I, § 102(a), Oct. 3, 2008, 122 Stat. 3863; Pub. L. 111–5, div. B, title I, §§ 1012(a), 1142(b)(5), 1144(b)(3), Feb. 17, 2009, 123 Stat. 319, 331, 332; Pub. L. 111–240, title II, § 2013(b), Sept. 27, 2010, 124 Stat. 2555; Pub. L. 111–312, title II, § 201(a), Dec. 17, 2010, 124 Stat. 3299; Pub. L. 112–240, title I, §§ 102(b)(2), (c)(2), 104(a), (b), (c)(2)(J), Jan. 2, 2013, 126 Stat. 2319, 2320, 2322; Pub. L. 113–295, div. A, title II, § 202(c), Dec. 19, 2014, 128 Stat. 4024; Pub. L. 114–113, div. Q, title III, § 334(b), Dec. 18, 2015, 129 Stat. 3108; Pub. L. 115–97, title I, §§ 11002(d)(1)(I), 12001(a), (b)(3)(A), (B), (4)–(6), 12003(a), Dec. 22, 2017, 131 Stat. 2060, 2092, 2093, 2095; Pub. L. 116–94, div. O, title V, § 501(b), Dec. 20, 2019, 133 Stat. 3180; Pub. L. 117–169, title I, § 10101(a)(1), (3)–(4)(B)(i), Aug. 16, 2022, 136 Stat. 1818, 1821; Pub. L. 119–21, title VII, § 70107(a)–(c), July 4, 2025, 139 Stat. 162, 163.)

Terms defined here

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Regulations under this section

Treasury regulations (26 CFR) issued under § 55

Cross-references

Computed from the citations in the text of Title 26 and 26 CFR.

This section cites 17 other sections

Cited by 27 Code sections

Show 3 more

Cited in 31 regulations not issued under it

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Amendment history

From the source credit and the official notes, newest first.

  1. Amended by Pub. L. 119–21Parts changed in 2025: (d)(4) (d)(4)(A) (d)(4)(A)(ii)(IV) (d)(4)(B)(i) (d)(4)(B)(i)(II)
  2. Amended by Pub. L. 117–169Parts changed in 2022: (a) (a)(2) (b)(1) (b)(1)(D) (b)(2)
  3. Amended by Pub. L. 116–94Parts changed in 2019: (d)(4)(A)(iii)
  4. Amended by Pub. L. 115–97Parts changed in 2017: (a) (b)(1) (b)(3) (c)(1) (d)(2) (d)(2)(D) (d)(3) (d)(3)(B)(i) (d)(3)(B)(iii) (d)(4) (d)(4)(A)(ii) (e)
  5. Amended by Pub. L. 114–113Parts changed in 2015: (b)(4)
  6. Amended by Pub. L. 113–295Parts changed in 2014: (d)(4)(B)(ii) (d)(4)(C)
  7. Amended by Pub. L. 112–240Parts changed in 2013: (b)(1)(A)(iii) (b)(3)(B) (b)(3)(C) (c)(3) (d)(1)(A) (d)(1)(B) (d)(1)(C) (d)(3)(A) (d)(3)(C) (d)(4)
  8. Amended by Pub. L. 111–312Parts changed in 2010: (d)(1)(A) (d)(1)(B) (e)(5)
  9. Amended by Pub. L. 111–240
  10. Amended by Pub. L. 111–5Parts changed in 2009: (c)(3) (d)(1)(A) (d)(1)(B)
  11. Amended by Pub. L. 110–343Parts changed in 2008: (b)(4) (d)(1)(A) (d)(1)(B)
  12. Amended by Pub. L. 110–246
  13. Amended by Pub. L. 110–234
  14. Amended by Pub. L. 110–166Parts changed in 2007: (d)(1)(A) (d)(1)(B)
  15. Amended by Pub. L. 109–222Parts changed in 2006: (d)(1)(A) (d)(1)(B)
  16. Amended by Pub. L. 109–135Parts changed in 2005: (c)(1) (c)(2) (c)(3)
  17. Amended by Pub. L. 109–58
  18. Amended by Pub. L. 108–357Parts changed in 2004: (b)(3)(B) (c)(2) (d)(1)(A)
  19. Amended by Pub. L. 108–311
  20. Amended by Pub. L. 108–27Parts changed in 2003: (b)(3) (b)(3)(B) (b)(3)(C) (d)(1)(A) (d)(1)(B)
  21. Amended by Pub. L. 107–16Parts changed in 2001: (d)(1)(A) (d)(1)(B) (d)(1)(C) (d)(3) (d)(3)(C)
  22. Amended by Pub. L. 105–206Parts changed in 1998: (b)(3) (e)(1)
  23. Amended by Pub. L. 105–34Parts changed in 1997: (b)(1)(A)(ii) (b)(3) (c)(1) (e)
  24. Amended by Pub. L. 104–188Parts changed in 1996: (c)(1) (c)(2)
  25. Amended by Pub. L. 103–66Parts changed in 1993: (b)(1) (d)(1) (d)(3)
  26. Amended by Pub. L. 102–486Parts changed in 1992: (c)(1) (c)(2)
  27. Amended by Pub. L. 102–318
  28. Amended by Pub. L. 101–508Parts changed in 1990: (b)(1)(A) (c)(1)
  29. Amended by Pub. L. 100–647Parts changed in 1988: (b)(2) (c)(1) (d)(3)
  30. Added by Pub. L. 99–514Parts changed in 1986: (c)(1)

Where it sits in the Code

  1. Subtitle A Income Taxes
  2. Chapter 1 NORMAL TAXES AND SURTAXES
  3. Subchapter A Determination of Tax Liability
  4. Part VI ALTERNATIVE MINIMUM TAX

Nearby sections

Official notes

The Law Revision Counsel's notes for this section (amendments, effective dates and related laws) are long, so they have their own page.