Large corporations (corporations with over $1,000,000 in taxable income in any of the three years prior to the current year)can use their prior tax year liability to determine all required estimated quarterly payments for the current year.

Question

Quizplus · Accepted Answer

Large corporations cannot use their prior year's tax liability to determine all required estimated quarterly payments; they must use the current year's tax liability for the second, third, and fourth installments.

Large Corporations (Corporations with Over $1,000,000 in Taxable Income in Any