How much estimated tax am I required to pay?

To avoid being assessed an underestimation penalty, you must pay in the lesser of:

  • 90% of the current tax year’s tax liability (through withholdings, estimated payments, or prior year overpayments)
  • 100% of the prior year’s tax liability (through withholdings, estimated payments, or prior year overpayments). 

Contact our office for more assistance in calculating this amount.

Show All Answers

1. Who is required to file a Sidney income tax return?
2. Who must file and pay estimated tax payments?
3. When are estimate payments due?
4. How much estimated tax am I required to pay?
5. Can I get help completing my Sidney tax return?
6. Are students exempt from Sidney income tax? Exempt from filing a return?
7. What schedules or supporting documents must I attach to my return?
8. I have a rental property that shows a loss each year after expenses. Should I include that in my return?
9. May I offset my self-employment losses, rental losses or other losses against my wage income?
10. My W-2 has differing amounts in the federal income box, the local income box and the Medicare box. Which amount should I show as taxable wages for my city income tax return?
11. I live in Sidney but work in another city and have tax withheld for that city. Do I get credit for that against my Sidney tax liability?
12. When are tax returns due?
13. What are the penalties and interest if I don't file?