Explain marquette estimated tax requirement for current year

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Assignment:

Marquette Corporation, a tax client since its creation three years ago, has requested a memorandum explaining its estimated tax requirements for the current year. The corporation is in the fabricated steel business. Its earnings have been growing each year. Marquette's taxable income for the last three tax years has been $500,000, $1.5 million, and $2.5 million, respectively. The Chief Financial Officer, Greg Patterson, expects its taxable income in the current year to be approximately $3 million.

Explain Marquette's estimated tax requirements for the current year and provide the necessary supporting authorities for your findings.

Reference no: EM133261766

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