State tax not withheld from 457 distribution

[Mike262]

• I received a one time partial distribution from my pre tax 457 plan at the end of December 2023 (I'm retired). The standard 20% federal tax was withheld, but no state or city tax was withheld (I'm in NYC). Can I wait until I file my 2023 return to pay what I owe to NY state or do I have to immediately make an estimated payment? Thanks

[Bsch4477]

If a large amount is involved you could make an estimated payment. 

[Mike262]

But do I HAVE to make an estimated payment? Or will I be charged a penalty if I wait until I file my 2023 return? I would prefer to wait until I file my 2023 return so I know exactly how much I owe, and also because I've never had to pay estimated taxes before, I'm not sure how to go about doing that.

[Mike262]

The amount was $60,000

[Bsch4477]

You would have to know the penalty and interest charged by your state on your projected tax liability after tax withheld. Making an estimated payment is as easy as downloading an estimated tax form for your state and mailing it before the end of the year. 

[Mike262]

I appreciate the attempt  to help, but what I really would like to know is IF there is a penalty for waiting until I file my 2023 return to pay the NY state tax that I owe. I can't seem to find the answer to that question on the NY state website.

[Bsch4477]

https://www.tax.ny.gov/pit/file/interest_and_penalties.htm#:~:text=If%20the%20tax%20you%20report,the...