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Author: jamiegumm One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 123045  
Subject: Estimated tax/NYS Date: 8/3/2009 1:46 PM
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Is New York State, not city if that's necessary, Estimated tax similar to the federal insofar as, quoting from Form 1040-ES instructions, "You do not have to pay estimated tax for current year if you had no tax liability for the previous year"?

I have the instructions for NYS form IT-2105, and seem to recall this mentioned in the general combined instructions from a couple year old booklet I have, but it may be different now.

Say you had very low income one year and zero tax to pay, but a fairly substantial SE the next, say owing over that threshold of $300 to NY, you would simply pay the tax, estimated penalty free, right?

Is there a helpful Web site generally to help one with the baffling labyrinth of 1040-ES, etc.
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