DanielV01
Expert Alumni

Get your taxes done using TurboTax

You should be safe this year.  Here is an excerpt from the following Michigan website:  Why am I being charged penalty and/or interest? - State of Michigan (click on link for further information):

Underpaid Estimate Penalty and Interest - A taxpayer that reasonably expects its tax liability for the year to be greater than $800 is required to make quarterly estimated payments. To avoid interest and penalty charges, estimated payments must equal at least 85% of the total tax liability for the current year and the amount of each estimated payment must reasonably approximate the tax liability for that quarter. If the prior year’s tax, including surcharge, is $20,000 or less, estimated tax may be based on 100% of the prior year’s total tax liability. This is known as a safe harbor provision. (NOTE: The safe harbor provision is not allowed for 2008 MBT tax year.)

Since the amount you owe is less than $800, you should not have a penalty.  However, I always recommend preparing the estimated payments, because you never know when your situation will change.  If you pay in at least the amount of Total Tax due this year during the 2018 fiscal year by timely estimated payments, you will avoid future penalties.

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