WOW! I'd only ever been around NQSO's versus these ISO/Statutory Stock Options. Is this a relatively new thing? Seems like a MEGA loophole that your exercise (which is instantaneous--and realizes income of the difference between your basis and the current FMV) isn't a taxable event.

I read a bit on this because it's new to me... Sounds like the AMT may/does apply though -- but the AMT and its application anywhere confuses the crap out of me so I'll just be happy that I learned some new stuff to go read up on.