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Wilson Corporation's taxable income for calendar years 2016, 2017, and 2018 was $180,000, $200,000, and $220,000, respectively, its total tax liability for 2018 was $46,200.
Wilson Corporation's taxable income for calendar years 2016, 2017, and 2018 was $180,000, $200,000, and $220,000, respectively, its total tax liability for 2018 was $46,200. Wilson estimates that as 2019 taxable income will be $300,000 an which it will owe federal income taxes of $81,900 Assume Wilson earns its 2019 taxable income evenly throughout the year. Read the requirements Requirement a. What are Wison's minimum quarterly estimated tax payments for 2019 to avoid an underpayment penalty? a large corporation, its minimum quarterly estimated tax payment is the Because Wilson Requirements a. What are Wilson's minimum quarterly estimated tax payments for 2019 to avoid an underpayment penalty? b. When is Wilson's 2019 tax retum due? c. When are any remaining taxes due? What amount of taxes are due when Wilson est retum assuming it timely paid estimated tax payments equal to the amount determined in Parta? d. How would your answer to Part a change if Wilson's tax lability for 2018 had been $131.0007 - X
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