What is the amount of tax to be paid for a short period assuming the tax from placing the short period on an annual basis is $2,300; the tax computation for the short period without annualizing is $2,100; and the tax computation using the full 12 months and prorating is $2,200.

Question

Quizplus · Accepted Answer

the tax for the short period is the lesser of annualized computation for the short period or the tax for the short period without annualizing; however the tax cannot be less than the tax computation for the full 12 months and prorated

What Is the Amount of Tax to Be Paid for a Short