Your Ask Joey ™ Answer

How to calculate estimated tax payments for C Corporations?

Estimated Tax payments for corporations will become due on the 15th day of the 4th, 6th, 9th, and 12th months of the succeeding calendar year. For corporations, the total estimated payments will equal the lesser of 100% of the tax paid in the previous year, or 100% of the tax due in the current year.

Corporations will be required to pay quarterly estimated tax amounts throughout the year depending on the size of the company:


Back To All Questions

You might also be interested in...

  • Discontinued Operations on the FAR CPA Exam

    Overview of Discontinued Operations In financial reporting, discontinued operations refer to a component of a company’s core business or product line that have been divested or shut down. Discontinued operations will be reported (net of tax) separately from continuing operations on the income statement. The reason that discontinued operations are reported separately is so that...

  • Equity Method Excel Workbook

    If you would like to use the Excel workbook that was used to create the Universal CPA lecture on the equity method, please click the link below to download the Excel workbook: Equity Method Lecture Example https://youtu.be/QE4flnmuSkw

  • How Hard is the CPA Exam?

    So you’re thinking about taking the CPA exam? Whether you have a dream of becoming a tax advisor, feel as though you need public accounting experience, or just want to solidify your business acumen, the CPA license is one of the most prestigious and well respected licenses in the business world. The exam itself is...