Volos Company (a calendar-year corporation) began operations in March of 2012 and was not profitable through December of 2013. Volos has been profitable for the first quarter of 2014 and is trying to determine its first quarter estimated tax payment. It will have no estimated tax payment requirement in 2014 because it had no tax liability for the 2013 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 2012 and was not profitable through December of 2013. Volos has been profitable for the first quarter of 2014 and is trying to determine its first quarter estimated tax payment. It will have no estimated tax payment requirement in 2014 because it had no tax liability for the 2013 tax year and has been in business for at least 12 months.

Volos Company (A Calendar-Year Corporation) Began Operations in March of 2012