Corporations with more than $1 million taxable income must pay 100% of their current federal income tax liability in the form of quarterly estimate payments to avoid an underpayment penalty.

Name: Corporations with more than $1 million taxable income must pay 100% of their current federal income tax liability in the form of quarterly estimate payments to avoid an underpayment penalty.
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Question

Quizplus · Accepted Answer

This is true according to the IRS tax code.

Corporations with More Than $1 Million Taxable Income Must Pay