Hello,
For the 2023 tax year, my California state tax liability was less than my withholdings on my W2 (therefore, I received a state refund and did not pay any estimated tax in 2023.) For 2024, would I therefore be exempt from having to pay a penalty if I underpay my 2024 California state tax? (Note, I am basing this on CA Form 5805 for the 2023 tax year and want to make sure I am understanding this correctly and that it still applies to the 2024 tax year).
Thank you!
