Calculate kaushtuppers minimum estimated tax payments

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Question - Kaushtupper Inc., a calendar year corporation, is considered a large corporation for purposes of the estimated tax payment rules. In 2017, Kaushtupper's income tax liability was $235,000 for the entire year. In 2018, Kaushtupper estimated taxable income as follows:

First 3 months of 2018 $300,000

First 6 months of 2018 650,000

First 9 months of 2018 800,000

Actual taxable income for 2018 was $920,000. Kaushtupper has a 21% tax rate in 2018 (and a 35% rate in 2017).

Calculate Kaushtuppers minimum (necessary to avoid penalties) estimated tax payments for the 1-4thquarters of 2018.

Reference no: EM132199430

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