Question

Robin Corporation, a calendar year C corporation, had taxable income of $700,000, $1.2 million, and $1 million for 2016, 2017, and 2018, respectively. Robin has taxable income of $1.8 million for 2018. The minimum 2019 estimated tax installment payments for Robin are:a.April 15, 2019, $52,500; June 17, 2019, $94,500; September 16, 2019, $94,500; December 16, 2019, $94,500.b.April 15, 2019, $52,500; June 17, 2019, $52,500; September 16, 2019, $52,500; December 16, 2019, $52,500.c.April 15, 2019, $94,500; June 17, 2019, $94,500; September 16, 2019, $94,500; December 16, 2019, $94,500.d.April 15, 2019, $52,500; June 17, 2019, $136,500; September 16, 2019, $94,500; December 16, 2019, $94,500.e.None of these choices are correct.

Answer 1

Answer:

D April 15,2019,$52,500;June 17,2019,$136,500;September 16,2019,$94,500

Explanation:

Please note that the tax rate for 2018 is 21% and 2019 is 25%

Taxable income for 2019        $1800000

Estimated tax payable @25%   $378000

1st payment is the lower of((21% of $1000000)/4 or $378000/4)) =$52500

2nd payment (($378000-$210000)+($378000))*25%                     =$136,500

3rd payment($378,000*25%)                                                             =$94,500

Answer 2

Answer:

I agree with the person with the above anwser

Explanation: