Minnesota recently published the 2018 version of their Income Tax Withholding Instruction Booklet and Tax Tables. This publication includes all pertinent information relating to income tax withholding rules and instructions in Minnesota, and also includes withholding tax tables for the calendar year.
There are changes to the information in the publication for 2018, which are as follows:
- The due date for annual filers is now January 31. If a Minnesota taxpayer has a withholding history of less than $500 per year, they are eligible to file and pay withholding tax on an annual cycle. This filing and payment due date has advanced from previous years, bringing it in line with W-2 and 1099 reporting (which is also due on January 31 for TY 2017/filing year 2018).
- The due date for Form ETA, Nonresident Entertainer Tax Promoter’s Annual Reconciliation, is also January 31.
- The interest rate for TY 2017 is 4%.
- Military Retirement Pay: individuals receiving certain types of military pensions or retirement pay can claim an exemption by filing Minnesota Form W-4MN.
To review this publication in full, please click here.
About the Author
Paul Ogawa is a Junior Regulatory Counsel at Sovos Compliance. As part of the Regulatory Analysis team, his main areas of focus are state and federal tax withholding, the Affordable Care Act (ACA), and Canadian tax information reporting. Prior to Sovos, Paul worked as a litigation attorney in Boston area law firms, representing clients in insurance subrogation claims, family law matters, and employment disputes. Paul is a member of the Massachusetts Bar, earned his B.A. from Brandeis University and his J.D. from the Suffolk University Law School.More Content by Paul Ogawa