Minnesota issues 2020 withholding materials
Friday, January 17, 2020

Minnesota issues 2020 withholding materials

By Payroll and Entitlements Editorial Staff

For corporate and personal income taxpayer purposes, the Minnesota Department of Revenue (department) has issued a press release discussing withholding tax material for 2020 tax year. Starting 2020 tax year, when employees complete or change federal Form W-4, they must also complete a Form W-4MN, Minnesota Employee Withholding Allowance/Exemption Certificate. If new employees do not complete a Form W-4MN, they must withhold tax using zero allowances at the single rate. Additionally, the department clarified that the requirements for submitting Forms W-4MN have not changed. If a taxpayer receives an IRS "lock-in" letter specifying an employee’s maximum number of withholding allowances, the taxpayer must use the same number of allowances for Minnesota withholding. The release also contains a list of relevant withholding tax material for 2020 tax year. The full text of the release is available at https://content.govdelivery.com/accounts/MNREV/bulletins/273ee88. (Press Release, Minnesota Department of Revenue, December 31, 2019.)

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