The following revisions were made to the 89-700:
- The marginal income tax rates have changed. Now, the first $2,000 is taxed at 0%; the next $3,000 is taxed at 3%; the next $5,000 is taxed at 4%, and the excess of $10,000 is taxed at 5%.
- The new interest rate on delinquent taxes is 1/2% per month.
- The withholding tables have been adjusted to account for changes in tax rates.
The only change to the 89-140 is an instruction to include 1099 income in the “MS Taxable Wages” box.