The Minnesota Department of Revenue provides Form W-4MN, Minnesota Withholding Allowance/Exemption Certificate for state tax withholding. An employee must complete Form W-4MN and provide it to the employer any time they start employment or change their federal Form W-4, or claims to be exempt from Minnesota income tax withholding. You must send copies of Form W-4MN to the Minnesota Department of Revenue if any of the following apply: – The employee claims more than 10 Minnesota withholding allowances: or – The employee claims to be exempt from Minnesota withholding and you reasonably expect the employee’s wages to exceed $200 per week (Exception: if the employee is a resident of Michigan or North Dakota and has completed Form MWR) – You believe the employee is not entitled to the number of allowances claimed The employer should honor the employee’s W-4 or W-4MN unless notified by the Internal Revenue Service or the Minnesota Department of Revenue that the form is not valid. Penalties apply to employees knowingly filing incorrect W-4 or W-4MN forms and employers who fail to provide federal or state tax authorities with, Forms W-4 or W-4MN when required. FURNISHING WAGE AND TAX STATEMENT TO EMPLOYEES The employer must issue a wage and tax statement, federal Form W-2 to each employee on or before January 31 of the following year, or within 30 days of a written request from the employee if his or her employment was terminated. Employers may furnish Form W-2 to employees electronically provided certain criteria are met. Employees must affirmatively consent to receive the Form W-2 in an electronic format and prior to, or at the time of the consent, the employer must provide a disclosure statement containing certain disclosures. Additionally, the electronic version of Form W-2 must contain all required information and comply with applicable revenue procedures relating to substitute statements to recipients. If the statement is furnished on a website, the employer must notify the employee, via mail, electronic mail, or in person, that the statement is posted on a website and provide instructions on accessing and printing the statement.* *Most employers are required to submit W-2 and 1099 information electronically. For more information go to the Minnesota Department of Revenue, Withholding Tax Fact Sheets and select Fact Sheet #2 Submitting Form W-2 and W-2c Information or #2a Submitting Form 1099 Information. The federal copy of Form W-2 together with Form W-3, Transmittal of Wage and Tax Statements, must be filed annually with the Social Security Administration no later than January 31. No other forms should be sent with the W-2s. The state copy of Form W-2 must be filed with the Minnesota Department of Revenue by January 31. Information Returns (1099s) that show Minnesota tax withheld should be sent with the W-2 Forms. Forms W-2 and W-3 may be obtained from the Internal Revenue Service, Online Ordering for Information Returns and Employer Return.
236
Made with FlippingBook - Online Brochure Maker