In a sensorless control system with a Permanent Magnet Synchronous Motor (PMSM), the angular position of the rotor flux can be estimated by a voltage equation. However, the estimated angle may be inaccurate due to various causes. In this paper, it was comprehensively analyzed how various causes affect the angle error. As a result of the analysis, an error equation intuitively describing these relationships was derived. The parameter errors of a PMSM and the non-ideal properties of the driving system were identified as error-causing factors. To demonstrate the validity of the error equation, PMSMs were tested at various operating points. The variations in angle errors could be well explained with the error equation.