Chemco Inc. has a December 31 year end and is not a small CCPC. For 2018, its taxes payable were $146,300, while for 2019, the amount was $94,650. For 2020, its estimated taxes payable are $52,300. What would be the minimum instalment payments for the 2020 taxation year and when would they be due? How would your answer differ if Chemco Inc. qualified as a small CCPC?

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The Answer of Chemco Inc. has a December 31 year end and is not a small CCPC. For 2018, its taxes payable were $146,300, while for 2019, the amount was $94,650. For 2020, its estimated taxes payable are $52,300. What would be the minimum instalment payments for the 2020 taxation year and when would they be due? How would your answer differ if Chemco Inc. qualified as a small CCPC?