Regulatory Analysis
Maine's Revenue Services recently published a 2018 version of Form 941-BN-ME, the Business Change Notification form. There are no substantive changes to the form from last year's version. To view Form 941-BN-ME in full, please follow the link below. Maine's Revenue Services recently published a 2018 version of Form 941-BN-ME, the Business Change […]
Maine's Revenue Services recently published the 2018 version of Form 941ME, Employer's Return of Maine Income Tax Withholding. There is a new line 8 for Form 941ME. Line 8 states "[i]f amended, enter withholding reported on original or as previously adjusted for Form 941ME, line 1 (line 8a). Adjusted amount (line 8b). See instructions. Enter […]
Maine's Revenue Services recently published the 2018 version of the Instructions for Filing Maine Income Tax Withholding Form 941ME. There are new instructions regarding the newly included Line 8 on Form 941. Additionally, instructions regarding Column E have been deleted. Finally, the interest rate has been reduced from 7% to 6%. To read the […]
South Carolina's Department of Revenue published SC Information Letter #17-18. This advisory letter updated the list of their interest rates to include the first quarter of 2018 (January 1 through March 31). The interest rate remains at 4%. To read the advisory letter in full, please follow the link.
Alabama has released its 2018 Withholding Booklet. The Withholding Booklet contains tax tables as well as instructions for employers and withholding agents. The only changes from the previous revision is the release of some updated withholding tax tables. To view the 2018 Withholding Booklet, please click here.
West Virginia recently updated Form IT-103, Withholding Year End Reconciliation Form. This form is used by payers to report their year-end withholding along with any applicable W-2 and 1099 forms. While the form has undergone formatting changes, the information reported on the form remains the same. A second page was added with instructions and […]
Puerto Rico has updated Publication 17-06. Publication 17-06 contains the electronic specifications for the 480 series of forms. With this update, Puerto Rico has included the specifications for Forms 480.7 and 480.7C, which were previously omitted due to the number of changes made to those forms. The following is a non-exhaustive list of changes […]
The Comptroller of Maryland recently updated the "What's New for the 2018 Tax Filing Season" (2017 Tax Year) page on the Comptroller's website. This page tracks changes in Maryland's tax law. The following changes have been made: For tax year 2017, Calvert County has increased its rate to 3.00% and Somerset County has increased its […]
Mississippi recently released an updated version of Publication 89-700, the Withholding Income Tax Tables and Employer Instructions. This publication contains instructions and requirements for employer-related tax reporting, including withholding tax information reporting. Other than minor formatting changes, there are only two notable changes in the most recent version of this publication. Income Tax Rates: […]
Montana recently released an updated version of their Form RW-3, the Annual Mineral Royalty Withholding Tax Reconciliation form. This form is filed along with Forms 1099-MISC and 1042-S as a reconciliation of amounts reported on those forms relating to mineral royalty withholding tax. The only change to the form is in the instructions: Form RW-3 […]
D.C. OTR recently released an updated version of Publication FR-230, the Income Tax Withholding Tables and Instructions. This publication contains information on income tax withholding rules as well as the actual income tax tables themselves. While a large part of the publication contains the same information as the previous version released for tax year […]
California's Employment Development Department recently updated DE 8829, the Household Employer's Guide, for 2018. The following changes have been made: All returns, wage reports, and tax deposits must be filed online with the EDD. This is a change from last year where employers with less than 10 employers could file by paper. The 2018 State […]
Colorado's Department of Revenue recently updated DR 1093, the Annual Transmittal of State W-2 Forms. While there are no changes to the form itself, the interest rate has been raised from .25% (.0025) to .333% (.003333). To view the form in full, please follow the link.
Georgia has released its 2018 Federal Format Specifications. These specifications are used to file Forms W-2, W-2c, and 1099 information with the Georgia Department of Revenue. There are no changes to the specifications from the previous revision. To view the 2018 specifications, please click here.
Vermont recently published an updated version of Publication MTT-600, the Vermont Department of Taxes ACH Credit Processing Instructions. This publication provides information to taxpayers regarding electronic payments using the ACH Credit Payment system through the VTax web portal. Other than formatting updates, there are a few updates to this publication, which are as follows: […]
Virginia recently released Tax Bulletin 17-13, which is used to communicate state tax interest rates for the First Quarter of 2018. Tax Bulletins of this nature are generally released on a quarterly basis. The tax interest rate for underpayments (assessments) will be 6% for the first quarter of 2018, while the rate for overpayments […]
Illinois has released its 2017 Form W-2G and 1099 Electronic Filing Specifications. Forms W-2G are mandated to be electronically filed for TY2017, and for TY2017 Forms 1099 will be electronically filed with the Illinois DOR on a voluntary basis. If a filer attempts to file Form W-2G information on magnetic media, it will not […]
Puerto Rico has released the 2017 revision of Form 480.7. This form is typically used to report retirement account information. Changes to the form come from new boxes used to report distributions related to Hurricane Maria: New boxes Box 10, Income Tax Withheld at Source on Eligible Distributions for Reason of Extreme Economic Emergency Due […]