Share of households liable for the alternative minimum tax in 2016 EXPANDED CASH INCOME LEVEL* $500,000 to $1 million Share of households liable for the alternative minimum tax in 2016 Of the 4.7 million filers paying the A. M.T. About 30 percent of households earning $200,000 to $500,000 in 2016 are being hit by the minimum tax, as are 63 percent of those earning $500,000 to $1 million, according to calculations from the nonpartisan Tax Policy Center in Washington. In Mr. Trump’s case, he paid 25 percent of $153 million in taxable income instead of the less than 4 percent that he would have paid without it. Both Mr. Trump and the House Republicans’ proposed overhaul of the code would eliminate the individual and corporate alternative minimum taxes. Mr. Trump has personal experience with the provision: It ended up costing him an additional $31 million in federal income taxes in 2005 that a banquet of deductions would have otherwise enabled him to avoid paying. President Trump and congressional Republicans want to eliminate the alternative minimum tax in the context of lowering tax rates — especially for those at the top of the income ladder.
