Samuel Co. has had taxable income of $450,000, $570,000, $760,000 and $680,000 in years 2013 through 2016, respectively. What were the equal minimum quarterly estimated tax payments for 2016 that Samuel Co. should have made in 2016 to avoid any penalty? a. $58,000 b. $64,676 c. $57,676 d. $170,000
Samuel Co. has had taxable income of $450,000, $570,000, $760,000 and $680,000 in years 2013 through 2016, respectively. What were the equal minimum quarterly estimated tax payments for 2016 that Samuel Co. should have made in 2016 to avoid any penalty? a. $58,000 b. $64,676 c. $57,676 d. $170,000
Chapter26: Tax Practice And Ethics
Section: Chapter Questions
Problem 32P
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Samuel Co. has had taxable income of $450,000, $570,000, $760,000 and $680,000 in years 2013 through 2016, respectively. What were the equal minimum quarterly estimated tax payments for 2016 that Samuel Co. should have made in 2016 to avoid any penalty? a. $58,000 b. $64,676 c. $57,676 d. $170,000
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