Multiple Choice
Which of the following statements is correct regarding S corporation estimated taxes?
A) S corporations never pay estimated taxes.
B) S corporations with a federal income tax liability of $500 due to the built-in gains tax or excess net passive income tax must pay estimated taxes.
C) S corporations that owe $5,000 in LIFO recapture tax only must pay estimated taxes.
D) S corporations with a federal income tax liability of $100 due to the excess net passive income tax must pay estimated taxes.
E) None of the choices are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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