Will paying 110% prior year estimated tax protect me if I earn $1 million?

September 23, 2011

Date:   Mon, 9 Nov 2009
From:   Tim

With respect to the prior year exception for California estimated tax purposes, does the 110% prior-year exception still apply if you expect your 2009 AGI to exceed $1 million?

Thanks,
Tim

Answer

Date:   7 Dec 2009

Hello Tim,

No. It stinks, doesn’t it?

Please send your questions to mgray@stockoptionadvisors.com. I will answer selected questions in this newsletter.

Good luck!

Mike Gray

For more answers to our readers’ questions and to learn about new tax developments relating to employee stock options, subscribe to our newsletter, Michael Gray, CPA’s Option Alert!

Comments are closed.