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

question 74

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 an $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:

Stomach

A hollow organ in the gastrointestinal tract that secretes acid and enzymes to digest food.

Integumentary System

A body system that includes the skin, hair, nails, glands, and nerves; its main function is to act as a barrier to protect the body from the outside world.

Nervous System

The network of nerve cells and fibers that transmits nerve impulses between parts of the body.

Receptors

Specialized cells or proteins on the surface or within cells that bind to specific molecules like hormones, neurotransmitters, or antigens, triggering a physiological response.