Jim Ryan: Hello. I’m Jim Ryan, Chief Financial Officer for Old National Bank. I’m joined today by Doug Gregurich and Mike Pitts. We’d like to talk to you about some of the recent tax changes that were enacted. We talked to Mike about personal AMT (Alternative Minimum Tax). Corporations are also subject to AMT. Can you tell us about some of the changes there?
Doug Gregurich: That’s one of the things that makes me the happiest about this new law is you no longer have to do calculations around AMT. For those of you who don’t know, AMT is kind of a dual system. So, you calculate your regular tax, you calculate your Alternative Minimum Tax, and then you pay the larger. You (now) no longer have to do that second calculation, so it makes corporate tax much, much simpler.
Jim Ryan: It simplifies it for personal and business clients.
Doug Gregurich: This is one of the areas where they actually achieve simplification. Not too many of them in this law, but that is one.
Jim Ryan: Good news.
Doug Gregurich: Yes.
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