Which of the Following Statements Is Correct Regarding S Corporation

question 107

Multiple Choice

Which of the following statements is correct regarding S corporation estimated taxes?

• A)S corporations never pay estimated taxes.
• B)S corporations with a federal income tax liability of $500 due to the built-in gains tax or excess net passive income tax must pay estimated taxes.
• C)S corporations that owe $5,000 in LIFO recapture tax only must pay estimated taxes.
• D)S corporations with a federal income tax liability of $100 due to the excess net passive income tax must pay estimated taxes.
• E)None of the choices are correct.

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Definitions:

Medial Pontine Reticular Formation

The Medial Pontine Reticular Formation is a part of the brainstem involved in regulating the sleep-wake cycle and coordinating motor activities.

Raphe Nuclei

A group of nuclei found in the brain stem involved in the regulation of sleep and mood, among other functions.

Neurotransmitters

Neurotransmitters are chemical messengers that transmit signals across a chemical synapse, from one neuron to another target neuron, muscle cell, or gland cell.

Serotonin

A neurotransmitter in the brain involved in regulating mood, appetite, and sleep among other functions.