Grouse Corporation, a calendar year C corporation, had taxable income of $1,400,000, $1,200,000, and $700,000 for...
Grouse Corporation, a calendar year C corporation, had taxable income of $1,400,000, $1,200,000, and $700,000 for 2017, 2018, and 2019, respectively. Grouse has taxable income of $1,600,000 for 2020.
What are Grouse Corporation's minimum required estimated tax payments for 2020?
April 15, 2020: $____
June 15, 2020: $ _____
September 15,2020: $ _____
December 15, 2020: $ _______
Total: $ ______
Homework Answers
Estimated tax payment for 2020 = taxable income*21% = 1600000*21% = $336000
Estimated tax payment for each installment = 336000/4 = $84000
Grouse Corporation's minimum required estimated tax payments for 2020:
April 15, 2020: $84000
June 15, 2020: $84000
September 15,2020: $84000
December 15, 2020: $84000
Total: $336000
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