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

ThomsonReuters

The state determines how much of your earnings are a result of business done in that state so it can charge you the right amount of income tax. tax differ in that allocation covers non-business income, while apportionment covers business income. Allocation and apportionment in U.S.