My income is largely derived from investments and fluctuates from year to year.
For IRS, I understand that if I pay 110% of my current tax due towards next year's estimated taxes, I will not owe any underpayment penalty or interest charges, if any.
Is that also true for California Franchise Tax Board? By paying 110% of my current tax due towards next year's estimated taxes, I will not owe any underpayment penalty or interest charges, if any, for California.
