Line 81: Penalty for underpaying your tax (estimated tax penalty)

You may owe an estimated tax penalty if you did not have enough tax withheld from your wages or did not make enough estimated tax payments on other income you earned during the year. We call these prepayments .

To determine if you may owe an estimated tax penalty, you will need the following information:

the amount of your 2022 New York adjusted gross income as shown on your 2022 return,

the amount of your 2022 New York income tax , and

the total amount of your 2023 prepayments (the amount of withholding and estimated tax payments you have already made or which were paid on your behalf by a partnership or S corporation for 2023).

In general, you are not subject to a penalty if your 2023 prepayments equal at least 100% of your 2022 New York income tax based on a 12-month return.

However, if your 2022 New York adjusted gross income was more than $150,000 (or $75,000 if you are married filing separately for 2023) and you are not a farmer or a fisherman, your 2023 prepayments must equal at least 110% of your 2022 New York income tax based on a 12-month return.

You may owe a penalty:

if line 80 is $300 or more and represents more than 10% of the income tax shown on your 2023 return; or

if you underpaid your estimated tax liability for any payment period.

For more information, see Form IT-2105.9 , Underpayment of Estimated Tax by Individuals and Fiduciaries , and its instructions .

If you owe an estimated tax penalty:

Enter the penalty amount on line 81.

Add the same amount to any tax due.

Enter the total on line 80.

It is possible for you to owe an estimated tax penalty and also be due a refund. In that case:

Subtract the estimated tax penalty amount from the overpayment.

Enter the net result on line 77. Do not include any other penalty or interest amounts on line 77.

In either case, submit Form IT-2105.9 with your return.