Reminder: Withholding and Estimate Tax Payment Changes

This summer the California Legislature again revised the estimated tax payment percentages. In the past, withholding from wages was applied by the FTB as equal percentages (25 percent) for each quarter. As of Jan. 1, 2010, the percentages are 30 percent, 40 percent, 0 percent and 30 for the first, second, third and fourth quarter installments. Corporations will also be making estimated tax payments based on the above percentages for taxable years beginning on or after Jan. 1, 2010.

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