If you are an employer in Greenwood Village, Colorado, it is important to be aware of the local payroll tax requirements for businesses operating in the city. These requirements may include registering your business with the city and withholding a certain percentage of your employees' wages for local taxes.
How to Register for Payroll Tax in Greenwood Village
Greenwood Village, Colorado Local Occupational Privilege Tax Setup for
Corporation, LLC, LLP
All businesses located in Greenwood Village, or who have employees working from Greenwood Village, must obtain an Occupational Privilege Tax License. Those with employees working long-term in the Village for construction projects or temporary placement agencies are also subject to getting an Occupational Privilege Tax License. Note: A one-time application fee of $10 is required at the time of licensing and annual license renewal is not necessary. 501(c)(3) nonprofit organizations may qualify for exemption from paying the employer portion of the Occupational Privilege Tax by providing a copy of the IRS tax-exemption determination letter.
Apply for an Occupational Privilege Tax License
Complete the Occupational Privilege Tax License application online.
Sign up for Online Tax Payment
Sign up for Xpress Bill to remit the occupational tax withheld.
Mail IRS Determination Letter (Nonprofits Only)
501(c)(3) nonprofits must mail a copy of the organization's IRS tax-exemption determination letter to the City of Greenwood Village.
The Employee Retention Credit, or ERC, is sometimes referred to as the Employee Retention Tax Credit (ERTC). This is a valuable tax credit offered to businesses and tax-exempt organizations during COVID.
This credit was designed to encourage employers to keep their workers on payroll, providing a significant financial incentive even during difficult economic times. While the ERC is no longer active, eligible employers can still claim this credit retroactively.
A foreign corporation is a business entity incorporated in one jurisdiction, but doing business in another. When a business entity, like a corporation or limited liability company, operates outside its home state, it’s considered “foreign” in the states where it transacts business — even though it’s a domestic corporation in its place of origin. Let’s dive into the basics around foreign corporations.
What Are the Basics of a Foreign Corporation?
Navigating the complexities of payroll tax can be a daunting task for any business leader, HR expert, or financial professional.
We’re here to simplify the subject, breaking it down into its essential elements so you can focus on what truly matters: running a compliant and efficient business. From startup founders to HR veterans, here are the insights you need to understand payroll tax and its implications for your business.
Gabrielle Sinacola |Dec 5, 2023
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