Clarification.

• Position: Correction Notice

In Everett, Karlinsky and O'Neil, "Tax Planning after AMT Reform," on p. 215 of the April 2004 issue:

In Example 1, D Corp. would be exempt from the AMT in 2003 and 2004 if the average annual gross receipts for the prior years did not exceed $7.5 million (not $5 million, as was stated).

In Example 2, the first sentence should have said...