January 31, 2020 Mississippi releases 2020 income tax withholding tables; withholding allowance certificate update The Mississippi Department of Revenue released 2020 wage-bracket withholding tables to its website. Publication 89-700, Withholding Income Tax Tables and Employer Instructions is not updated for 2020. There is no percentage method available to determine Mississippi withholding; however, the Department does provide a computer payroll flowchart for 2020. Mississippi withholding exemption certificate required When beginning employment or when a change in exemptions is needed, employees are required to complete and furnish to their employers a Form 89-350, Mississippi Employee's Withholding Exemption Certificate, indicating the amount of state personal exemptions to which they are entitled. Federal Form W-4 will not supply the proper information for Mississippi withholding purposes. In the event that the employee fails to submit Mississippi Form 89-350, the employer must withhold based on zero exemptions. Supplemental withholding Mississippi does not provide for a supplemental withholding rate. For more information on Mississippi withholding tax, see the Department's website. ———————————————
——————————————— EY Payroll News Flash | |||||||||
|