Thank you so much for your reply. I'm now seeing that California has limitations on AGI for BOTH prior and current year. Federal for prior year looks similar, but does federal have something similar for current year for 2023 estimated taxes? I didn't find anything...
From California tax board:
"If you’re required to make estimated tax payments and your prior year California adjusted gross income is more than:
- $150,000
- $75,000 if married/RDP filing separately
Then you must base your estimated tax based on the lesser of:
- 90% of your tax for the current tax year
- 110% of your tax for the prior tax year (including alternative minimum tax)
High income estimated tax
If your current tax year's adjusted gross income for California is equal to or greater than:
- $1,000,000
- $500,000 if married/RDP filing separately
You must pay your estimated tax based on 90% of your tax for the current tax year.
