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The controller of X limited, a Canadian controlled private Corporation, estimates that the companys taxes payable for its year ended December 31st 2022 will be
The controller of X limited, a Canadian controlled private Corporation, estimates that the companys taxes payable for its year ended December 31st 2022 will be $200,000. Taxes payable for each of the previous three years was as follows:
2019 - $212,000
2020 - $180,000
2021 - $140,000 (taxable income was $600,000)
What is the minimum monthly installment that X limited, which is not an eligible small CCPC must pay in the 2022 taxation year and the due date for the final balance of tax?
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