DMarkM1
Expert Alumni

State tax filing

Yes.  However, your estimated tax payments needed to be timely as each installment period is treated separately as a tax due for that period.  Below are extracts from the form 2210 instructions. 

 

"In general, you may owe the penalty for 2023 if the total of your withholding and timely estimated tax payments didn't equal at least the smaller of: 1. 90% of your 2023 tax, or 2. 100% of your 2022 tax. Your 2022 tax return must cover a 12-month period.

 

Higher income taxpayers. If your adjusted gross income (AGI) for 2022 was more than $150,000 ($75,000 if your 2022 filing status was married filing separately), substitute 110% for 100% in (2) above."

 

"Penalty figured separately for each required payment

The penalty is figured separately for each installment due date. Therefore, you may owe the penalty for an earlier due date even if you paid enough tax later to make up the underpayment. This is true even if you’re due a refund when you file your tax return. However, you may be able to reduce or eliminate the penalty by using the annualized income installment method. "

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