(a) For the purpose of this chapter, Part VI of Subchapter A of Chapter 1 of Subtitle A of the Internal Revenue Code, relating to alternative minimum tax, shall apply as it read on January 1, 2015, except as otherwise provided. (b) A corporation electing under Chapter 4.5 (commencing with Section 23800) to be treated as an âS corporationâ shall not be subject to the tax imposed by this chapter.
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