Minnesota Income Tax Withholding Instruction Booklet And Tax Tables - 2018 Page 8
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34Deposit Information
There are two deposit schedules - semi-
• You withheld more than $1,500 in Min-
If you are required to deposit electronically
weekly or monthly - for determining when
nesota tax in the previous quarter
and do not, a 5 percent (.05) penalty applies
you deposit income tax withheld. Tax is
to payments not made electronically, even if
Monthly deposits are due by the 15th day
considered withheld at the time employees
a check is sent on time.
of the following month.
are paid, not when the work is performed.
How to Make Deposits
For example, if an employee is paid in
Deposit Schedule Exception
Deposit Electronically
January for work performed in December,
You may deposit the entire Minnesota tax
You can make deposits over the Internet
the tax is considered withheld in January,
withheld for the current quarter if both of
using e-Services, our electronic filing and
not December. Your Minnesota deposit
the following are true:
paying system. Go to our website to log in
schedule is determined by your federal
• You withheld $1,500 or less in Minne-
to e-Services.
deposit schedule and the amount of tax you
sota tax in the previous quarter
withheld.
If you do not have Internet access, call
• You filed that quarters return on time
1-800-570-3329 to deposit by phone. For
When depositing tax, include all Minnesota
Quarterly deposits are due April 30, July
either method, follow the prompts for a
income tax withheld from:
31, October 31, and January 31 of the fol-
business to make a withholding tax pay-
• employees
lowing year.
ment. When paying electronically, you must
• corporate officers for services performed
Deposits must be made electronically, if
use an account not associated with any
• pensions and annuities
required, or postmarked by the U.S. Post
foreign banks.
Office (not by a postage meter) on or before
Deposit Schedules
For additional information, see the
the due date. If the deposit due date falls on
Most employers are required to file with-
withholding tax help link in e-Services.
a weekend or holiday, the due date is ex-
holding tax returns quarterly. Quarterly
tended to the next business day. For details,
Deposit by Check
filers must deposit Minnesota tax according
see “Due Dates for Filing and Paying” on
If you are not required to deposit electroni-
to their federal deposit schedule.
our website.
cally, you may choose to pay by check. You
Semiweekly Deposit Schedule
must mail your deposit with a personalized
Annual Deposit Schedule
You must deposit Minnesota withholding
payment voucher.
If you meet the requirements to be an annu-
tax following a semiweekly schedule if
al filer (see page 9) and you withheld $500
Go to our website and click Make a
both of the following are true:
or less prior to Dec. 1, the entire amount of
Payment under For Businesses. Enter the
withholding may be paid when the annual
• You are required by the IRS to deposit
required information and print the voucher.
return is due. The annual return is due Janu-
following the semiweekly depositing
A personalized scan line will be printed at
ary 31. However, annual filers must make
schedule
the bottom of the voucher using the infor-
deposits each time the total tax withheld
mation you provided.
• You withheld more than $1,500 in Min-
exceeds $500 during the year. Deposits are
nesota tax in the previous quarter
If you don’t have Internet access, call 651-
due the last day of the month following the
282-9999 or 1-800-657-3594 to ask us to
If your payday is:
month in which amounts withheld exceed
mail payment vouchers to you.
• Wednesday, Thursday, or Friday, your
$500 (except December).
deposit is due the Wednesday after
Your check authorizes us to make a one-
Electronic Deposit
payday.
time electronic fund transfer from your
Requirements
• Saturday, Sunday, Monday, or Tuesday,
account. You will not receive your canceled
You must make your deposits elec-
your deposit is due the Friday after
check.
tronically if you meet one of the following
payday.
For additional payment methods, including
requirements:
One-day Rule. Minnesota did not adopt
ACH Credit Method, Credit or Debit card,
the federal “one-day rule” for federal li-
• You withheld a total of $10,000 or more
and Bank Wire, see page 11.
abilities over $100,000. If you meet the
in Minnesota income tax during the last
federal one-day rule requirements, you can
12-month period ending June 30
still deposit your Minnesota withholding
• You are required to electronically pay
tax according to your deposit schedule.
any other Minnesota business tax to the
Department of Revenue
Monthly Deposit Schedule
• You use a payroll service company
You must deposit Minnesota withholding
tax following a monthly schedule if both of
If you’re required to pay business taxes
the following are true:
electronically for one year, you must con-
tinue to do so for all future years.
• You are required by the IRS to deposit
following the monthly depositing sched-
ule
8
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