For estimated tax purposes, a "large" corporation is any corporation with average annual gross receipts of $5,000,000 in the three years prior to the current year.
For estimated tax purposes, a "large" corporation is a corporation with more than $1,000,000 of taxable income in any of the three years prior to the current year.

Question

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For estimated tax purposes, a "large" corporation is defined as one with taxable income of $1,000,000 or more in any of the three preceding tax years, not based on gross receipts.

For Estimated Tax Purposes, a "Large" Corporation Is Any Corporation