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.
Saying goodbye is never easy. Whether an employee is moving on to new opportunities, retiring after years of dedicated service, or leaving under less favorable circumstances, how you handle their departure matters. A lot.
Sure, employee offboarding—the process of formally separating an employee from an organization—gets overshadowed by its flashier counterpart, onboarding. However, it deserves just as much attention. Think about it—a rock-solid offboarding process protects your company from security risks, maintains team morale, transfers vital knowledge, and might even turn departing staff into future brand ambassadors.
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.
Your statutory agent is essentially your business’s official point of contact in Arizona — the designated person or company that accepts important legal documents on your behalf. This isn’t a choice — it’s a requirement.
Arizona law mandates that all businesses operating within the state must have a statutory agent in place. Why? A statutory agent ensures that your business always has a reliable way to receive critical notices and legal documents, protecting you from potential setbacks and surprises.
Kaitlin Edwards |May 19, 2024
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