If you are an employer in New Richmond, Ohio, 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 Richmond
New Richmond, Ohio Local Withholding Tax Setup for
Corporation, Professional Corporation, LLP, LLC
Employers must register with the Ohio Regional Income Tax Agency (RITA) to withhold income tax from the qualifying wages of employees working within New Richmond, even if they are remote.
Complete Registration Online
Create a RITA MyAccount, if you haven't already done so, to register for New Richmond withholding tax. Select "Withholder" as the tax type.
Add Municipality to RITA MyAccount
Log in to your RITA MyAccount and click "Add Municipality" to add New Richmond withholding tax to your account.
Business privilege and mercantile tax (BPM) is a tax assessed on the gross receipts of specific types of businesses, commonly retailers and wholesalers. Originating from the Pennsylvania Local Tax Enabling Act of 1965, this tax serves as compensation for businesses availing local governmental services, such as public safety measures.
BPM has undergone multiple changes since 1965. By 1988, the Pennsylvania Local Tax Reform Commission labeled it as a “nuisance tax,” primarily due to inadequacies in the legislative framework and vagueness surrounding the tax base.
In 2022, New York reported a gross state product of over two trillion dollars, the third highest number of any state in the US. That’s a lot of business activity—and it represents a large number of employers subject to New York’s workers’ compensation policies.
New York imposes strict workers’ compensation requirements and steep penalties for violations. If you employ workers in New York, you’ll need to comply with the state’s workers’ compensation laws to avoid fines or actions against your business.
When you’ve finally found the perfect new employee for your business, it’s time to get that person onboarded — and part of the onboarding process is reporting every new hire.
Essentially, the government needs some basic information about everyone who joins your team. Here’s what employers need to know about how, when, and why they should be reporting new hires.
What Is New Hire Reporting? New hire reporting is the process of reporting basic information about every new hire to the federal government.
Gabrielle Sinacola |Jun 10, 2024
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