the current year, LNS corporation reported the following taxable income at the end of its first, second, and third quarters. Quarter-End First Second Third Installment Cumulative at are LNS's minimum first-, second-, third-, and fourth-quarter estimated tax payments, using the annualized income method? e: Enter all amounts as positive values. Leave no answer blank. Enter zero if applicable. Round "Annualization Factor" for rth quarter to 7 places. Round other intermediate computations and final answers to the nearest whole dollar amount. irst quarter Fecond quarter hird quarter ourth quarter Taxable Income $ 1,000,000 1,600,000 2,400,000 Taxable Income Annualization Factor Annual Estimated Taxable Income $ $ $ $ 0 0 0 or Tax on Estimated Taxable Income Percentage of Tax Required to be Paid % % % % Required Cumulative Payment S S S $ 0 0 0 0 Prior Cumulative Payments Required Estimated Ta Payment
the current year, LNS corporation reported the following taxable income at the end of its first, second, and third quarters. Quarter-End First Second Third Installment Cumulative at are LNS's minimum first-, second-, third-, and fourth-quarter estimated tax payments, using the annualized income method? e: Enter all amounts as positive values. Leave no answer blank. Enter zero if applicable. Round "Annualization Factor" for rth quarter to 7 places. Round other intermediate computations and final answers to the nearest whole dollar amount. irst quarter Fecond quarter hird quarter ourth quarter Taxable Income $ 1,000,000 1,600,000 2,400,000 Taxable Income Annualization Factor Annual Estimated Taxable Income $ $ $ $ 0 0 0 or Tax on Estimated Taxable Income Percentage of Tax Required to be Paid % % % % Required Cumulative Payment S S S $ 0 0 0 0 Prior Cumulative Payments Required Estimated Ta Payment
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter3: Taxes On The Financial Statements
Section: Chapter Questions
Problem 4BCRQ
Related questions
Question
![For the current year, LNS corporation reported the following taxable income at the end of its first, second, and third quarters.
Quarter-End
First
Second
Third
What are LNS's minimum first-, second-, third-, and fourth-quarter estimated tax payments, using the annualized income method?
Note: Enter all amounts as positive values. Leave no answer blank. Enter zero if applicable. Round "Annualization Factor" for
Fourth quarter to 7 places. Round other intermediate computations and final answers to the nearest whole dollar amount.
Installment
First quarter
Second quarter
Cumulative
Taxable Income
$ 1,000,000
1,600,000
2,400,000
Third quarter
Fourth quarter
Taxable Income
Annualization
Factor
Annual
Estimated
Taxable Income
$
$
$
$
0
0
0
0
Tax on Estimated
Taxable Income
Percentage of Tax
Required to be
Paid
Required
Cumulative
Payment
%
$
|% $
%
$
%
$
0
0
0
0
Prior
Cumulative
Payments
Required
Estimated Tax
Payment](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc13d24f5-f750-4b4c-9290-a482f7eab870%2F15c80253-4d6a-48b0-9542-881d1e769d10%2F4gabw7_processed.png&w=3840&q=75)
Transcribed Image Text:For the current year, LNS corporation reported the following taxable income at the end of its first, second, and third quarters.
Quarter-End
First
Second
Third
What are LNS's minimum first-, second-, third-, and fourth-quarter estimated tax payments, using the annualized income method?
Note: Enter all amounts as positive values. Leave no answer blank. Enter zero if applicable. Round "Annualization Factor" for
Fourth quarter to 7 places. Round other intermediate computations and final answers to the nearest whole dollar amount.
Installment
First quarter
Second quarter
Cumulative
Taxable Income
$ 1,000,000
1,600,000
2,400,000
Third quarter
Fourth quarter
Taxable Income
Annualization
Factor
Annual
Estimated
Taxable Income
$
$
$
$
0
0
0
0
Tax on Estimated
Taxable Income
Percentage of Tax
Required to be
Paid
Required
Cumulative
Payment
%
$
|% $
%
$
%
$
0
0
0
0
Prior
Cumulative
Payments
Required
Estimated Tax
Payment
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