Saturday, November 28, 2009

If I pay quarterly self employment taxes to the IRS, do I also need to pay them to my state

If I pay quarterly self employment taxes to the IRS, do I also need to pay them to my state?
I just started a freelance job and will therefore need to make self employment tax payments to the IRS. Will I also need to do this for my state? I live in California. Thanks
United States - 6 Answers
Random Answers, Critics, Comments, Opinions :
1 :
If there is a state income tax in California, then I would say yes.
2 :
Self-employment tax replaces Social Security and Medicare taxes for self-employed people. It is not charged by the state. California will charge income tax on your business profit.
3 :
If California has a state income tax, it probably wouldn't be a bad idea for you to make estimated tax payments to the state as well.
4 :
yes
5 :
Yes.
6 :
You need to make payments (four per year, but not quarterly; there are two in 2nd quarter and none in 4th quarter) to the IRS of both self-employment taxes and federal income taxes. You need to make payments (four per year, but not quarterly; there are two in 2nd quarter and none in 4th quarter) to the state of CA of state income tax, but not self-employment tax. So, the answer is technically no, you do not have to make "quarterly" payment of "self-employment tax" to CA. You do have to make four tax payments per year to CA, but the tax is not "self-employment tax" and the payments are not "quarterly".

Read more discussions :