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Returning Member
posted Aug 28, 2024 10:29:32 AM

I am a single member LLC in Pennsylvania. I just started in June. Do I need to file quarterly taxes with PA? Is there an amount threshold that I must stay below to avoid filing quarterly with PA? If I have to file quarterly with PA, how do I do it

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1 Replies
Employee Tax Expert
Aug 28, 2024 11:42:04 AM

Hello,

PA's rule for estimated taxes is Any individual who expects to receive more than $8,000 of Pennsylvania-taxable income not subject to withholding by a PA employer must estimate and pay personal income tax quarterly. Tax due dates for individuals are April 15, June 15, Sept. 15 and Jan. 15

 

Estimate income not subject to withholding by a Pennsylvania employer that you expect to earn, receive and/or realize for the entire year. Allow for increases you know will occur, such as the sale of stock or property. Multiply your estimated income by 3.07 percent (0.0307), then divide the result by four. This amount is your estimated quarterly payment.

 

You may file your estimated payments electronically and have them withdrawn from a checking or savings account, or you may pay by credit or debit card. For more information or to pay your estimated payments using an electronic method, visit the department’s e-Services Center at www.revenue.state.pa.us or call 1-800-2PAYTAX (272-9829). To file estimated payments by mail, use Form PA-40ES for individuals