article thumbnail

Trendspotting: Top Ten Payroll Issues of State Legislatures

ThomsonReuters

States eye workforce as a legislative priority for payroll The majority of state legislatures began their legislative sessions this January. A flurry of bills is being proposed in the payroll space — many having to do labor and employment. Currently, Mississippi does not have any minimum wage or overtime provisions.

payroll 105
article thumbnail

Employer Payroll Tax Obligations When Employees Work Out-Of-State

Anders CPA

This changing employment landscape requires employers to reassess their payroll tax withholding processes to ensure you are withholding the proper amount of state, local and unemployment taxes from your employees’ wages. Below we dive into the state and unemployment tax responsibilities employers need to know.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

State Employees In Mississippi Targets Of Direct Deposit Scam

PYMNTS

Internal Revenue Service (IRS) said that ahead of tax season, preparers and other victims received requests to change direct deposit activity. News comes this week from Mississippi that state workers are being targeted by similar fraud attempts. The IRS cited “spoofed” addresses that seemed official.

article thumbnail

The Benefits of Delayed Business Filings

CPA Practice

Incorporating at the End of the Year The primary advantage of incorporating before the end of the year is your clients can then take advantage of the tax benefits owning a corporation offers, including writing off the costs of incorporating on this year’s taxes.

article thumbnail

Federal Paid FMLA May Be Out While States Consider Possibilities

ThomsonReuters

The program would be funded by 2% payroll tax, 1% paid by the employer, 1% paid by the employee ( L. Mississippi. The proposed Mississippi Paid Family Leave Act ( L. The post Federal Paid FMLA May Be Out While States Consider Possibilities appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

article thumbnail

PPP Loan Forgiveness in 2022: Will You Have to Pay?

Snyder

It included a money aid, or PPP loan, for small businesses to cover payroll expenses when no revenue hits the balance. Another problem with the Paycheck Protection Program was unclear IRS policies on tax deductions. For many SMB owners, this would lead to adverse tax consequences. Where is the problem?

payroll 52
article thumbnail

Top 10 States for Credits and Incentives Opportunities

Cherry Bekaert

individual states offer unique tax credits and negotiated incentives to attract or retain business operations. To qualify for payroll or cash refunds, the company must file an application and receive approval from the state prior to creating the new jobs. Throughout the U.S., The incentive amount varies by location and industry.