Divide this text into sentences and correct mistakes: 1. Under payment penalties for corporations, to avoid underpayment penalties, corporations must make quarterly estimated income tax payments. 2. To avoid underpayment penalties, the amount of the payment is the least of three options. 3. First, 100 percent of last year's tax liability assuming you had a full year. 4. Second, 100 percent of the actual current tax year liability. 5. Third, 100 percent of the estimated current tax year liability, annualized if you're on a short year. 6. We align last year's liability to determine if it was paid. 7. If it was paid, then there are no underpayment penalties. 8. If it was not paid, we check if the correct amount was paid for this year. 9. If the correct amount was paid, then there are no underpayment penalties. 10. In cases where last year was only a four-month year, estimating is not advisable. 11. In such cases, we annualize the current tax year liability.
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