Which of the following is not true for purposes of the corporate estimated tax payments?

Question

Quizplus · Accepted Answer

Although timely paid estimated tax installments for a large corporation will avoid a penalty, they must be for either 100 percent of the tax shown on the prior year's return if it was for a period of 12 months and showed a tax liability of $2,000 or more, or for 25 percent of the current year's expected tax liability. Option B incorrectly states that only the prior year's tax liability is considered for avoiding a penalty for a large corporation.

Which of the Following Is Not True for Purposes of the Corporate