Regulatory Analysis
The Idaho State Tax Commission recently published updated e-Filing guides for information returns, specifically W-2 and 1099 reports. These publications contain instructions, guidance, and specifications for filing these information return types electronically with the state. There are several updates to these publications, which are as follows: 1099 e-Filing Guide: Instructions for 1099s with Idaho Withholding […]
New Jersey recently released the 2020 version of NJ-EFW2, the Specifications for Reporting W-2 Information Via Electronic Filing. Several minor grammatical and formatting changes were made but no changes were made to the specifications themselves. To view the full specifications, please click here.
The Arizona Department of Revenue recently published information creating a new filing requirement for Form 1099-S. This filing requirement is new for tax year 2020 and requires Form 1099-S to be filed if certain criteria are met: specifically, if the form must be filed federally AND if the address or legal description of the property […]
The Arizona Department of Revenue recently published an update to Publication 701, Submitting Arizona Forms A1-R, A1-APR, and Federal Forms W-2, W-2c, W-2G, and 1099. This publication provides instructions and filing specifications for reporting these forms to the Department of Revenue for the upcoming tax year 2020 filing season. There are several updates to this […]
Minnesota recently released its 2020 specifications for both 1099 and W-2/W-2C on Withholding Fact Sheets 2 and 2A. There only change to the specifications was that the years for the form and the revision dates have been updated for tax year 2020 filing in 2021. No changes were made to the specifications themselves. To view […]
New Jersey recently released new updates to the NJ-WT, the New Jersey Income Tax Withholding Instructions. There were several changes to the document since the previous revision in October of 2020. The most notable of these changes are detailed below. How to Withhold: A notation has been edited to state that the federal W-4 should […]
New York recently released an updated version of Publication NYS-50, the Employer’s Guide to Unemployment Insurance, Wage Reporting, and Withholding Tax. Several changes were made to the publication this year including updates to websites and department names. The most notable of these changes are detailed below. Highlighted Changes New sections added regarding how changes to […]
Missouri recently released it’s Employer’s Tax Guide for Tax Year 2021. This guide contains general information regarding filing and payment of withholding taxes for Missouri employers. Additionally, the publication contains the updated tax withholding tables. The most notable change was a revision of the withholding tables to include increased standard deductions. Several other minor changes […]
Mississippi recently released an update to it’s October release of the 1099 Specifications which includes specific “B” record requirements for filing Forms 1099-NEC with the state Department of Revenue. The specific details are listed below. 1099-NEC E-File Format Section Added MS DOR will follow any IRS file record specification changes for the current year MS […]
The Hawaii Department of Taxation recently updated their 1099 filing requirements to include Form 1099-NEC for tax year 2020 reporting purposes. Hawaii has conformed to the federal use and filing of Form 1099-NEC and will require reporting when the taxpayer is engaged in a trade or business in Hawaii or has a place of business […]
Last week, the New Mexico Department of Revenue issued a news release reminding taxpayers of big changes to gross receipts tax collection and reporting coming in July. Pursuant to House Bill No. 6 of the 2019 legislative session, sales and leases of tangible personal property in New Mexico will be subject to local tax at […]
The West Virginia State Tax Department recently published Administrative Notice 2020-24 which provides information related to interest rates on underpayments and overpayments of taxes. These rates are established by the State Tax Commissioner by their authority under West Virginia Code §11-10-17 and §11-10-17a. Beginning January 1, 2021 and ending on December 31, 2021, inclusive, the […]
The Oklahoma Tax Commission recently updated their Frequently Asked Questions page relating to 1099 filing requirements. Along with the previously required forms, Oklahoma will now require Form 1099-NEC for tax year 2020 and beyond. Filers must report payments of $750 or more made to an Oklahoma resident or to a nonresident when the services were […]
West Virginia has released its final W-2 specifications for the 2020 tax year. The only change found was the year in the state-modified W-2 RV record; the year field should reflect 2020 for the current tax year. The RV record reports this in positions 12-15. To view the complete specifications, click here.
North Carolina recently released an important notice with information regarding various updates to North Carolina’s withholding tax for information returns due in 2021. The document primarily discusses the state requirements for filing federal Form 1099-NEC with the state along with North Carolina Form NC-1099M, and the extension of the waiver of the administrative requirement to […]
Michigan recently updated its Withholding for Pension Administrators page with the amount of qualifying pension and retirement benefits from private sources that may be deducted from Michigan income. For single/married filing separate filers, up to $53,759 may be deducted and $107,517 may be deducted for married filers filing joint for the 2020 tax year. Previously […]
South Carolina has released an updated version of Form SCDOR-111. The form is used to register for various types of tax withheld for the state. While not a complete redesign, the document underwent significant changes for the 2020 Tax Year, the most notable of which are detailed below: Section A has been renamed Entity Registration […]
Income Tax Withholding Certificate for Nonresident Individuals, used for nonresidents performing personal services substantially in Nebraska. Form 941N is the Nebraska Income Tax Withholding Return, used for employers to report withholding to Nebraska. The Nebraska Circular EN is the state’s guide on income tax withholding for wages, pensions and annuities, and gambling winnings. Most of […]