McDowell-Information/Misc/Tax Guides/Selective Guide

yellowheader.jpg (3854 bytes)

THESE PROVISIONS HAVE BEEN SUPERCEDED

IX. Estimated Taxes

Are not required in the first tax year or for taxpayers whose prior period (year) tax was under the statutory limit

In determining whether a legal entity, which did not exist for the entire tax period is required to pay estimated taxes in the next tax period, the tax liability for the part of the period has to be increased as if the entity was in existence for the entire tax period.