Ok- ESOP participant is taking a lump sum distribution and decides to take advantage of the special tax treatment of the ESOP shares.
So the taxable amount = cash + stock basis.
I knoe that if this were a shares only distribution there would be no withholding becasue there is no cash. Here there is cash but not enough to withhold the federal tax , much less the required state withholding.
Should I send as much as there is to the Federal Govt and "stiff" the state or shoudl I do some sort of pro-ration of the taxation so both the feds and the state get something?
If i'm totally off base on this, please educate me.