Grant Corporation Is Not a Large Corporation for Estimated Tax

question 48

Multiple Choice

Grant Corporation is not a large corporation for estimated tax purposes and reports on a calendar-year basis.Grant expects the following results: Grant's tax liability for last year was $240,000.Grant's minimum total estimated tax payment for this year to avoid a penalty is

• A)$240,000.
• B)$248,000.
• C)$288,000.
• D)$280,000.

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Definitions:

Controlling Investor

An investor or entity that holds a significant amount of voting stock in a company, allowing them to influence or control management decisions.

Long-Term Investment

Investments that a company or individual holds for more than one year, typically including stocks, bonds, or real estate.

Parent

A company that holds a controlling interest in another company, making the other company its subsidiary.

Par Value

Par value is the nominal or face value of a bond, share of stock, or coupon as stated by the issuer, which may differ significantly from its market value.