AMT
Abbreviation with 3 meanings
| Stands for | Alternative minimum tax |
|---|---|
| Meanings | 3 |
| Categories | Business & Finance, Writing & Everyday, Transportation & Travel |
| Also written | amt. |
AMT has three meanings. The most common are Alternative minimum tax (tax) and Amount (everyday); it can also stand for Automated manual transmission.
Meanings of AMT at a glance
| # | AMT stands for | Context |
|---|---|---|
| 1 | Alternative minimum tax | Business & Finance › Tax |
| 2 | Amount | Writing & Everyday › Everyday |
| 3 | Automated manual transmission | Transportation & Travel › Automotive |
1. Alternative minimum tax
Business & Finance · Tax Abbreviations
Parallel federal income tax calculation that adds back certain deductions and preferences and applies 26% and 28% rates above a large exemption. Taxpayers pay whichever is higher, regular tax or tentative minimum tax, so high-income households with many breaks still pay some tax.
Example: Exercising all those incentive stock options pushed me into the AMT this year.
A minimum tax was enacted in 1969 after Treasury testimony that 155 high-income households had paid no federal income tax. Because its exemption was not indexed for inflation until 2013, it crept into the middle class until the 2017 tax law sharply raised the exemptions. Today the most common trigger is exercising incentive stock options. It is computed on Form 6251.
2. Amount (amt.)
Writing & Everyday · Everyday Abbreviations
Shortens "amount" on invoices, checks, receipts, forms and bank statements, as in "amt. due" or "amt. paid."
Example: Amt. due: $312.40, payable by the 15th to avoid a late fee.
On paper checks the amount appears twice, in figures and in words, and under the Uniform Commercial Code the words generally prevail if the two differ. Credit card statements distinguish the minimum amount due from the full balance. Variants include amnt and amt without a period.
3. Automated manual transmission
Transportation & Travel · Automotive Abbreviations
Gearbox that uses a conventional single clutch and manual gear set operated by electronic or hydraulic actuators instead of the driver. AMTs are cheap and efficient, common in budget cars in India and in heavy trucks, but can shift slowly.
Example: The AMT version of the hatchback costs only a little more than the manual and saves my left leg in Delhi traffic.
Unlike a DCT, an AMT has one clutch, so there is a noticeable pause in acceleration during each shift. Heavy-truck AMTs such as the Eaton Endurant have largely replaced manual gearboxes in new US Class 8 trucks. Many European city cars of the 2000s used early AMTs that drivers found jerky.
Related abbreviations
More tax abbreviations
- 990 – Return of Organization Exempt From Income Tax (IRS Form 990)
- ABN – Australian Business Number
- ACTC – Additional Child Tax Credit
- AGI – Adjusted gross income
- AOTC – American Opportunity Tax Credit
- AY – Assessment year
- CGT – Capital gains tax
- CP2000 – IRS Notice CP2000 (proposed adjustment to income tax return)
See all 116 tax abbreviations →