Volos Company (a calendar-year corporation)began operations in March of 2018 and was not profitable through December of 2019. Volos has been profitable for the first quarter of 2020 and is trying to determine its first quarter estimated tax payment. It will have no estimated tax payment requirement in 2020 because it had no tax liability for the 2019 tax year and has been in business for at least 12 months.

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The Answer of Volos Company (a calendar-year corporation)began operations in March of 2018 and was not profitable through December of 2019. Volos has been profitable for the first quarter of 2020 and is trying to determine its first quarter estimated tax payment. It will have no estimated tax payment requirement in 2020 because it had no tax liability for the 2019 tax year and has been in business for at least 12 months.

Volos Company (A Calendar-Year Corporation)began Operations in March of 2018