We are located in and do business exclusively in New York. The following information deals with the federal and state requirements for NY businesses. While federal requirements apply to businesses throughout the country, other states have other forms and requirements. Please contact us to help you research requirements for your state.
? I am a new business or am just now starting to pay employees how do I set this up with the federal and state governments
- when you filled out the ss4 for the internal revenue service at business inception, if you entered a date you should be receiving the proper forms necessary..if you entered no date, you need to call the irs (1-800-tax-1040)
- helpful federal publication pub 15T New Withholding Tables and pub 15 circular E Employers Tax Guide
- if not done at inception of business a NYS 100 needs to be filed with state of new york. This will ensure that all forms are sent to you for timely reporting and you will obtain an employer registration number
- helpful nys publication pub 20 NYS Tax Guide for New Businesses
? what forms do I need to give employees upon hiring.
? what forms do I need for reporting payroll taxes
form 8109 coupon for filing federal income tax, social security and medicare taxes due 15th of month for taxes withheld during prior month for monthly filers (you may be a semi-weekly filer if your total federal tax liability in last years look back period totaled more than $50,000) . For more information read pages 17-19 of pub 15 circular E (see link above)
form 941 used to report wages, federal income tax, social security and medicare taxes withheld and matching social security and medicare taxes. Due Quarterly for Jan March, April June, July Sept, and Oct Dec filing required by end of month after quarter end.
form 940 used to report wages and federal unemployment taxes. Deposits are due on unemployment tax at end of quarters if amounts over $100 are due. Payment must be made by last day of month following quarters end. Filing of form 940 is required at year end by january 31st of next year.
Other helpful publications:
NYS1 coupon used to send payment of nys and nycity income tax withheld within a quarter. If tax accummulates to more than $700 by quarters end, taxes must be submited withing 5 business days of the date of the payroll in which the tax accummulated to more than $700. Otherwise payment is due within 5 business days at the end of each payroll quarter (same as federal quarters)
NY45 used to report wages, state and local taxes withheld and calculate employment and re-employment taxes due. Due Quarterly for Jan March, April June, July Sept, and Oct Dec filing required by end of month after quarter end.
NY45ATT used to report wages and state withholding per employee if you have more than 5 employees to report. Form accompanies the NY45 quarterly
NY45CC used to report wages and hourly information for employers doing business in the construction industry. Form accompanies the NY45 quarterly
Other Helpful publications:
NYS SALES TAX ISSUES
? I am a new business or have just recently started selling a taxable product or service how do I register to withhold sales tax with the state of New York
? Are there any sales or services for which I do not have to charge sales tax
? I frequently receive in the mail offers to purchase required posters that I am supposed to post. Do I have to purchase these posters and post them
- The United States Department of Labor does require certain posters to be displayed in the workplace. However, you do not need to purchase laminated fancy copies. In fact, only certain companies need to display certain posters and these posters are provided by the Department of Labor for free. To research what you are required to display, go to this helpful link on the US DOL web site and click on the elaws workplace poster advisor link.
- New York State also requires certain posters to research requirements and obtain free posters go to this helpful link on the NYS Department of Labor web site.