By Payroll and Entitlements Editorial Staff
For corporate and personal income tax purposes, the Wisconsin Department of Revenue has published an updated withholding tax guide effective for withholding periods beginning on or after April 1, 2014. The guide notes that the current withholding tax rates will continue for the 2019 tax year. Further, beginning January 1, 2019, employers filing on a quarterly, monthly, or semi- monthly basis cannot submit an annual reconciliation of Wisconsin tax withheld (Form WT-7) until all deposit reports (Form WT-6) have been filed. Additionally, a new stand-alone W-2 application allows businesses to key in and submit W-2s and 1099s at any time during the year in My Tax Account.
For nonresident entertainers, the withholding report (Form WT-11) is tax-year specific and allows a person to report withholding for multiple nonresident entertainers. Also nonresident entertainers may request a lower withholding rate by using the new Form WT-12. Among other topics, the guide discusses registration and general withholding information, depositing withheld taxes, reconciliation process, additional information and forms, and income tax withholding methods and tables. (Wisconsin Department of Revenue Withholding Tax Guide W-166, February 2019.)
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