Subject: AMT Comment: The AMT is a hideous tax system and should be abolished. The complexity is unbelievable, especially in trying to determine what estimated taxes must be paid for the year to make up for its additional tax bite. The system of requiring that tax be paid on paper profits from incentive stock options is ridiculous-why tax people on income they have not received, especially when the value of the stock may decrease before sale? The whole point of stock options is to allow ownership in one's company, but personally I cannot afford to buy the stock from my small option grant because I am an average working person and not a wealthy executive with cash available to pay AMT so I can continue to hold my company's stock. If you don't do anything else to fix the AMT, please end this practice around options! |