If you are an employer in New, New York, 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 New
New York Metropolitan Commuter Transportation Mobility Tax (MCTMT) Setup for
Corporation, LLC, LLP, Professional Corporation, PLLC
The Metropolitan Commuter Transportation Mobility Tax (MCTMT) is a tax imposed on employers "doing business" within the Metropolitan Commuter Transportation District (MCTD) e.g., NYC and surrounding counties. If you have at least $312,500 in quarterly payroll from employees located in the MCTD, you are required to withhold and pay MCTMT. The MCTD is defined as Manhattan, Bronx, Brooklyn, Queens, Staten Island, Rockland, Nassau, Suffolk, Orange, Putnam, Dutchess, and Westchester counties.
Determine if you Meet the Criteria for Paying MCTMT
Mark "Done" if you have at least $312,500 in quarterly payroll from employees located in the Metropolitan Commuter Transportation District, or are otherwise required to withhold and pay MCTMT.
Identify Employees that Qualify for MCTMT
An employee is considered to be a covered employee if the employee's services are allocated to the Metropolitan Commuter Transportation District. New York State provides guidance on determining if an employees is a covered employee.
Update Payroll Settings for Each Qualifying Employee
Some payroll providers need to be told which employees are covered by MCTMT so they can remit payment and file returns.
If you’re an Indiana employer, knowing the state’s labor laws is essential to keeping your business on the right path. Simply put, they govern how your employees work, ensuring fairness and safety in the workplace. However, with Indiana labor law having so many rules and regulations, it can make business owners feel like they’re decoding a complex puzzle. Thankfully, Mosey is here to guide you through that puzzle.
As a business owner, you’re responsible for keeping track of many key compliance issues. Each type of report has different requirements and due dates. The Quarterly Wage and Tax Report is an essential compliance matter that significantly impacts your ability to run your business.
Filing a quarterly wage report, meeting unemployment tax requirements, and making a regular quarterly contribution to every mandatory tax account can be challenging, but Mosey is here to make things easier. Here’s what you need to know about quarterly wage report requirements and how we can help you stay compliant.
Not only is staying compliant with business regulations not optional, but it’s also not a walk in the park. Rules change from state to state and sometimes even between cities or counties. Compliance can consume serious time and energy for businesses — especially those ready to grow across multiple locations.
CorpNet is a well-established player in the business formation and compliance space. They handle the time-consuming tasks of registering your business, securing licenses, and staying on top of some of the regulatory paperwork.
Gabrielle Sinacola |May 25, 2024
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