The Alto-Baxter Affiliated Group Filed a Consolidated Return for the First

question 57

Multiple Choice

The Alto-Baxter affiliated group filed a consolidated return for the first time last year. The group does not come under the "large" corporation rules. For last year, the group reports a tax liability of $60,000. Cooper Corporation has a $30,000 tax liability last year. This year, the Alto-Baxter affiliated group purchased all of the Cooper stock. This year, the Alto-Baxter-Cooper group reports a $110,000 consolidated tax liability. To avoid penalties for the current year, the group must make timely estimated tax payments of how much during the year?

• A)$60,000
• B)$90,000
• C)$110,000
• D)No estimated tax payments are required.

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Definitions:

Socially Acceptable

Behaviors or actions that are considered appropriate and conform to the norms and expectations of a particular society or group.

Unusual

Not common, rare, or ordinary; something that deviates from what is typically expected or normal.

Generalized Anxiety Disorder

A chronic condition marked by excessive, uncontrollable worry about everyday matters.

Dissociative Identity Disorder

A psychological condition characterized by the presence of two or more distinct personality states that control behavior in different contexts.