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California Income Tax Filing Deadline 2024

California Income Tax Filing Deadline 2024:
What You Need to Know!

Business
31 January, 2024
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Author
Jim Harper

The US tax season 2024 has already started and poses many challenges, especially for state tax filers. Compared to federal taxes, filing state taxes involves more complexities. Like every tax season, both individual and business taxpayers wonder about the California income tax filing deadline and important dates.

To this, we must tell you that the deadline to file a tax return in California varies for the calendar year and fiscal year. Also, it depends on whether you are an individual taxpayer or a business entity.

If you aren’t applying for an extension, the deadline to file your individual tax returns in 2024 is the same as the federal tax deadline i.e., April 15, 2024. However, it would shift to the next business day if it is a weekend or a state holiday on this date.

For small businesses operating as partnerships or S corporations, March 15 is the last date to file taxes. And for C-corporations, the due date stands at April 15.

And failure to file taxes on time would make you liable to pay unwanted penalties and interest. Thus, it is wise to know about the deadline to file taxes for 2023 and fulfill your tax liability stress-free and timely.

So, if you are a California resident or have a business interest in the state, you must read this post until the end. Here, we have discussed the 2023 tax return filing deadline details in the state for both individuals and businesses.

Tax Filing Deadline in California for Individuals

For individuals, the due date for tax filing is April 15, 2024 (for a calendar year). However, if you are unable to pay the tax amount by the deadline, you can go for a 6-month extension by submitting Form 4868 . It will buy you some more time to file your tax return till October 15, 2024.

Keep in mind that this extension is only for tax return filing and you must pay all the tax amount you owe by the original deadline (April 15, 2024). If you fail to do so, you will attract penalties depending on the duration of the delay or the amount you owe.

Apart from knowing about the California income tax filing deadline, you must collect knowledge about the due dates for estimated tax payments for different quarters in 2024.

So if you are an employee, a retired person, self-employed, or an independent worker, you must keep in mind all the tax deadlines. Here are the important tax dates and deadlines you must know:

Due Date Motive
January 16, 2024 It is the due date for the fourth quarter estimated tax payment for the year 2023.
January 29, 2024 It is the beginning of the tax season 2023 and the IRS starts processing tax returns from this date.
January 31, 2024 The due date for employers to send W-2 forms so that employees can complete the procedure for the 2023 tax return filing.
January 31, 2024 Independent workers are required to show 1099 forms by this date to reflect income in the form of interest, dividends, rent, etc.
April 15, 2024 It is the tax filing deadline in California for individuals. Failure to pay taxes by this deadline would invite penalties and interest for taxpayers.
April 15, 2024 Those who want to seek a tax extension can apply for it by this date. It is the last date for filing the 4648 form and requesting an extension for a time duration of 6 months. But you can only get this extension for your tax return and you must pay your taxes by April 15.
April 15, 2024 Due date to make the estimated tax payment for the first quarter of 2024. It involves the estimation of income and the related income tax for the quarter. If you end up paying more than the required, you can either ask for a refund right away or go for overage for next year’s quarterly tax payments.
June 17, 2024 Deadline for the estimated tax payment of the second quarter of 2024.
September 16, 2024 The last date to pay the estimated tax payment for the third quarter of 2024.
October 15, 2024 Due date to file an extended tax return for those who chose to file an extension earlier.
January 15, 2025 The last date for the estimated tax payment for the fourth quarter of 2024.

So, these are some of the important tax deadlines that you should consider for filing your individual tax returns on time. Don’t forget that you can opt for an extension only for filing tax returns. It means you must pay your taxes by the original tax filing date i.e., 15 April 2024.

Now, let’s discuss the tax filing deadline for businesses of different types in California!

California Business Tax Filing Deadline

If your business falls in the category of partnerships, C-corps, or S-corps, then the due date for filing taxes is different. Also, the tax deadline varies depending on whether a business chooses a fiscal year or a calendar year for its tax formalities.

Accordingly, you need to fill out different forms to complete the tax filing procedures effectively. For businesses using a fiscal year, the due date for tax filing is the 15th day of the third month after the closure of the tax year.

For instance, if a business chooses April 1 to March 31 as its fiscal year to report taxes, it is liable to pay its business tax return by June 15, 2024.

And if it shows its business activities as per the calendar year, then the California income tax filing deadline for it stands at March 15, 2024, i.e., the 15th day of the third month of a calendar year. Noted that you are required to fill out Form 1065 or 1120S for the business tax filing.

Here are some of the important tax deadlines that businesses of various types must remember:

Due Date Motive
January 15, 2024 Estimated tax payment due date for the fourth quarter of 2023
January 29, 2024 It marks the beginning of the tax season 2024
January 31, 2024 Sending of W-2 forms by employers to employees
January 31, 2024 Deadline to send 1099 forms to report income of independent workers or self-employed workers
March 15, 2024 4 Due date to file taxes for different businesses (partnerships, S-Corporations, and multi-member LLCs)
April 15, 2024 Tax filing due date for C-Corporations that use the calendar year
September 16, 2024 Deadline to file extended tax returns for partnerships and S-Corporations
October 15, 2024 Deadline to file extended tax returns for C-Corporations
January 15, 2025 Due date for estimated tax payment for the fourth quarter of 2024

Conclusion

Fulfilling state tax obligations in the US requires taxpayers to understand different aspects of US taxation. Whether you are eligible for individual taxation or business taxation in California, you must not miss the California income tax filing deadline to avoid undesirable penalties.

If you can’t manage to file your tax return by the due date, you can seek a tax extension by applying for it. Also, if you are struck by any natural disaster, then you also have this door open for you.

However, you will only get this extension for filing tax returns and you still have to pay all the taxes by the original deadline. The amount of penalty charges you are liable to pay would depend on the type of deadline you missed and the amount you owe.

You must complete the tax return filing procedure effectively. And for this, you need to have a comprehensive knowledge of the California tax laws and regulations.

For a new taxpayer of any category, it is a difficult task. Any mistake in the state tax return filing could cost him heavily in the form of penalties.

To ensure the smooth filing of your tax returns in the state, it is a good idea to consult expert accountants in California. Seeking the help of seasoned tax professionals would not just help you avoid taxation mistakes but also create more space to reduce your tax liability.

Although many ways to make tax payments are available, it is the best choice to go for e-filing to execute the process seamlessly. It is a more secure way of filing tax returns than paper filing.

Not only does it help a taxpayer transmit the tax return rapidly but it also facilitates getting the refund in the bank account right away.

So, that’s all the important updates about the California income tax filing deadline for individuals and businesses.

We hope you got a valuable piece of information after reading this blog post. For more updates during the tax season 2024, stay connected!

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