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Who must make estimated tax payments?

You may be required to make estimated tax payments if:

  • no taxes are withheld from certain taxable income during the year
  • you have net earnings from self-employment allocated to the Metropolitan Commuter Transportation District (MCTD)

Examples of taxable income

If you are making estimated tax payments, you can pay electronically by creating an Online Services account or use Form IT-2105, Estimated Tax Payment Voucher for Individuals.

You do not need to pay estimated tax if:

* Note: special rules apply to farmers and fishermen. See Form IT-2105-I, Instructions for Form IT-2105, Estimated Tax Payment Voucher for Individuals

  • You expect to owe less than $300 of New York State, $300 of New York City, and $300 of Yonkers income tax after deducting tax withheld and credits that you are entitled to claim

You should also note that estates (and certain grantor trusts) are exempt from paying estimated tax for the tax year of the decedent's death and the following year.

Updated: