Omnidata uses the annualized income method to determine its quarterly federal income tax payments. It had $100,000, $50,000, and $90,000 of taxable income for the first, second, and third quarters, respectively ($240,000 in total through the first three quarters). What is Omnidata's annual estimated taxable income as of the end of the third quarter?
A)$300,000.
B)$320,000.
C)$400,000.
D)$480,000.

Question

Quizplus · Accepted Answer

Omnidata's annual estimated taxable income is $400,000 ($240,000 x 4/3).

Omnidata Uses the Annualized Income Method to Determine Its Quarterly