Fundamentals and Best Practices for Handling Multi State Taxation

  EVENT DATE

July 11, 2017

  PRESENTER(s)

Vicki M. Lambert

  1:00 PM ET | 12:00 PM CT | 10:00 AM PT | 90 Minutes




This program has been approved for 1.5 PDCs toward SHRM certification hours.
The program is pre-approved for 1.5 credit hour under HRCI

DESCRIPTION



Complying with the tax code, tax withholding requirements and deposit schedules for the IRS and one state is complicated enough. But for the multistate employer, multiply this by 5, 10, or 20 or even 50 and it can turn into a payroll department's worse nightmare. Not only are there more rules and regulations to comply with, but the penalties can multiply if mistakes are made.

All payroll professional must know the taxation and reporting requirements for all states where the company has employees working or in the case of reciprocal agreements, living. But for the payroll department that must handle employees who work in multiple states simultaneously or who travel to different states at different times for the employer the taxing and reporting requirements can become an arduous task at best and at worse a total fiasco. Questions must be answered, sometimes on an employee by employee or even tougher on a case by case basis for an individual employee. Which state income tax is withheld? Does it matter if the employee is a resident or a nonresident of the state? Are there any reciprocal agreements in effect that must be taken into consideration? Which state do we pay the SUI to and what happens if one of the states has disability insurance but the other doesn’t? Or worse yet what if both states require disability insurance to be deducted? And this is where this webinar “Fundamentals and Best Practices for Handling Multistate Taxation” by Vicki M. Lambert will help. This webinar will cover the intricacies and requirements that must be addressed by the multistate employer.

Session Highlights:

This webinar discusses the handling of state taxes when an employee lives in one state and works in another, or works in two or more states simultaneously. Includes what taxes to be on the lookout for including locals, determining liability as an employer, reciprocal agreements, resident and nonresident taxation, Form W-4 equivalents and state unemployment insurance.

  • How to determine state withholding liability
  • Who is a resident
  • How reciprocal agreements affect taxation of wages
  • How state exemptions or credits affect withholding
  • Resident and nonresident taxation policies
  • The four factor test for state unemployment insurance
  • Income and unemployment taxation of Fringe benefits
  • Which states follow the Internal Revenue Code and which version
  • How to handle income and unemployment insurance taxation for employees working in multiple states
  • Supplemental withholding rates
  • Withholding requirements when an employee is in a state temporarily
  • Which states require the use of their own Withholding Allowance Certificate, which states allow either theirs or the Form W-4, and which states don’t have a form
  • Reporting wages for multistate employees on Form W-2

Learning objectives:

By the end of this webinar the attendee will have:    

  • Gained knowledge of the various taxes required by different states including income tax, disability insurance and the plethora of local taxes that may apply to the wages
  • Learned how to handle supplemental wages paid to a multistate employee
  • Understand how to determine state withholding liability and how it is affected by the residency of the employee
  • Gained knowledge in reciprocal agreements and the difference between taxing residents on their worldwide income and nonresidents on the income earned within the state
  • A better knowledge of the three calculation methods permitted to determine taxable wages for state income tax including the volume of business ratio method and the time basis method
  • A clear understanding of the basics of the four factor test used to determine the payment of state unemployment insurance

Who will Benefit:

  • Payroll Professionals
  • Human Resources
  • Accounting Personnel
  • Business Owners
  • Lawmakers
  • Attorneys, or any individual or entity that must deal with the complexities and technicalities of multistate taxation within the payroll process





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