<Tr> <Td> No more exemption in 2013 at </Td> <Td> $323,000 </Td> <Td> $477,100 </Td> <Td> $238,550 </Td> <Td> $165,000 </Td> <Td> $310,000 </Td> </Tr> <Tr> <Td> Capital gain rate </Td> <Td> 15% </Td> <Td> 15% </Td> <Td> 15% </Td> <Td> 25% </Td> <Td> 20% </Td> </Tr> <P> * For income within the exemption phase - out, marginal tax rates are effectively multiplied by 1.25, which changes 20% to 25%, changes 26% to 32.5%, and changes 28% to 35% . </P> <P> In addition, corporations with average annual gross receipts of $7,500,000 or less for the prior three years are exempt from AMT, but only so long as they continue to meet this test . Further, a corporation is exempt from AMT during its first year as a corporation . Affiliated corporations are treated as if they were a single corporation for all three exemptions ($40,000, $7.5 million, and first year). </P>

Who is affected by the alternative minimum tax