Question

Judy is self-employed. She estimates she will owe $4,000 in California tax next year. She would like to make estimated payments. What are the due dates to pay California estimated tax?

a. Generally, 30% due on April 1st, 40% due on June 1st, and 30% due on January 1st. No September 1st payment is required.
b. Generally, 25% due on April 15th, 25% due on June 15th, 25% due on September 15th, and 25% due on January 15th.
c. Generally, 25% due on April 15th, 25% due on June 15th, and 25% due on January 15th. No September 15th payment is required.
d. Generally, 30% due on April 15th, 40% due on June 15th, and 30% due on January 15th. No September 15th payment is required.

Answer 1

The due dates to pay California estimated tax are generally on April 15th, June 15th, September 15th, and January 15th of the following year.

Step-by-step explanation:

The correct answer is option B. Generally, 25% due on April 15th, 25% due on June 15th, 25% due on September 15th, and 25% due on January 15th.

When making estimated tax payments, individuals who are self-employed or receive income that is not subject to withholding must pay quarterly estimated taxes to cover their tax liability for the year. For California state taxes, the due dates for estimated tax payments are April 15th, June 15th, September 15th, and January 15th of the following year.

By making these quarterly payments, individuals can avoid an underpayment penalty or help reduce the amount owed when filing their annual tax return. It is important to note that the amounts due may vary depending on individual circumstances, so it is always best to consult with a tax professional or refer to official tax publications for specific guidelines.