I owe for state tax on a newspaper route (machines and dealers not home delivery)which I no longer have but I owe for taxes last year. I have a 1099 from last year which I used for my government taxes and I wanted to know if I could just use that to figure out my state tax that I owe instead of trying to figure out each quarter. I also have to deduct what I was paid from my dealers(7-11, Hess...etc) since the tax was paid on their papers already. I'm trying to get this done easily and quickly. just paying 1 amount would be easiest.
The truth is, it depends on which state you are filing in, but in most states you need to file for the period that was set up for you by the state department of taxation, board of equalization, etc., if you are referring to state sales tax or B&O taxes or CAT tax. If you are referring to income taxes you can carry the amount from your form 1040 to the first line of your state return.
Source(s):
CPA, EA
The amount per quarter is generally used for estimated taxes. Since you're paying amounts from last year, doesn't sound like that would matter, just calculate for the year.
You would need information from your Federal taxes for any previous owed taxes, and if they are late, there will be a late filing fee as well which be be calculated by your state agency and you will receive a bill. When filing this year, there is a place on your tax form Schedule C to let them know that your business has closed. So, you actually need income, minus expenses and the usual and customary deduction you are entitled to in order to find your tax for last year. If you filed your federal taxes for last year, it's simple to find your taxable amount and calculate your state taxes. You can also request a copy from the IRS if you've misplaced your copy. I hope this helps. Just remember, a penalty will be calculated for late payments for a tax year, not for a quarter.
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