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January 7, 2024
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CA pass-through entity tax, for ES tax calculation

  • January 7, 2024
  • 2 replies
  • 0 views

Hi there,

Need to calculate how much personal ES tax to pay for CA state, based on the the 110% previous year tax rule. Wondering if the  CA pass-through entity tax (PTE ) should be included as part of tax payment that I have already paid for the year?  I understand the PTE will be applied as a credit, not quite sure if that is the same as a payment in this case.

Thanks a lot!

    Best answer by Anonymous_

    @Critter-3 

    2 replies

    Employee
    January 7, 2024
    January 11, 2024

    In this case a credit is the same as a payment since it is a dollar-for-dollar reduction of your taxes due.

     

    @chrisjli 

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