What is Estimated Tax Check or Money Order State of New ...

-ES12022 Form NJ-1040-ESWhat is Estimated TaxEstimated tax refers to paying tax on your income as it is earned throughout the year if you do not already pay tax through with-holdings, or if not enough tax is withheld. If you expect to owe more than $400 when you file your New Jersey Income Tax return, you may need to make Estimated tax payments. For more information, see GIT-8, Estimating Income tax payments are not payments for prior year tax debts. Do not use Form NJ-1040-ES to pay outstanding bal-ances for prior years. For information on starting a payment plan, visit to Avoid Estimated Tax If you do not have enough tax withheld from your wages, ask your employer to withhold more tax. To do this, complete Form NJ-W4 and give it to your you have pension income, ask the payer of the pension to withhold tax or increase the tax withheld. To do this, complete Form NJ-W-4P and give it to the payer of the Must FileWhether you are a resident or a nonresident, you are required to make Estimated tax payments if you estimate that you will owe more than $400.

Determine your expected income, then subtract your exemp-tions and deductions to arrive at your expected taxable income. Apply the appropriate tax rate to your expected taxable income. Subtract total anticipated credits and withholdings to arrive at your estimated tax. Use the estimated tax worksheet on page 3 as a guide for this calculation.

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