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Heads Up! Payroll Changes Coming in July

ThomsonReuters

New Mexico. Beginning July 1, new forms will be used to report withholding tax. Form TRD-41414, Wage Withholding Tax Return, will be used to report withholding from payments to employees. Form TRD-41409, Non-Wage Withholding Tax Return, will be used to report withholding from non-wage payments.

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State Legislative Update: Tax Relief Opportunities and New Tax Obligations Enacted in 2022

ThomsonReuters

These legislative highlights have been grouped into two categories: new opportunities for tax relief and new tax obligations. Tax Relief Enacted in Delaware, Florida, Georgia, and New Mexico. The tax credit is referred to as a “relief rebate.” Florida Sales Tax Holiday. . §

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Last Week in Payroll: The Ides of March

ThomsonReuters

For more details on the payroll-related provisions of ARPA, please see our Thomson Reuters Tax and Accounting blog post. These extensions include the paid sick and family leave tax credits (extended through first quarter 2021) and the employee retention tax credit (extended through second quarter 2021). 2021 Form 941.

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What is state tax apportionment and how do you calculate it?

ThomsonReuters

Each state gets to decide what matters most — your payroll, property, or sales — and in what ratio to account for them. This can make calculating state income tax complex, particularly if you do business in multiple states. A single sales factor formula , which bases taxes solely on a company’s sales within the state.