Kold Services Corporation estimates that its 2019 taxable income will be $500,000. Thus, it is subject to a 21% income tax rate and incurs a $105,000 liability. For each of the following independent cases, compute Kold’s 2019 minimum quarterly estimated tax payments that will avoid an underpayment penalty.
a. For 2018, taxable income was ($200,000). Thus, Kold generated a zero 2018 liability.
b. For 2018, taxable income was $450,000, and tax liability was $94,500.
c. For 2017, taxable income was $2,000,000, and tax liability was $680,000. For 2018, taxable income was $400,000, and tax liability was $84,000.