Estimated taxes safe harbor federal and North Carolina

hntrust · ‎March 31, 2024

I know that if I pay 100% of the tax owed in 2023 as estimated payments for 2024 that I am safe from penalties and interest when I file for 2023. Are the rules the same for estimated state taxes for North Carolina?

LenaH · ‎April 1, 2024

When you file for 2024, you will owe a underpayment penalty if the total of your North Carolina income tax withheld and timely estimated tax payments do not equal at least the smaller of:

90% of your 2024 tax, or
100% of your 2023 tax

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LenaH · ‎April 1, 2024

When you file for 2024, you will owe a underpayment penalty if the total of your North Carolina income tax withheld and timely estimated tax payments do not equal at least the smaller of:

90% of your 2024 tax, or
100% of your 2023 tax

D-422 Instructions

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Estimated taxes safe harbor federal and North Carolina