Get Nc Nc-4p 2023-2025

Complete Form W-4P so your payer can withhold the correct amount of federal income tax from your periodic pension, annuity (including commercial annuities), profit-sharing and stock bonus plan, or individual retirement arrangement (IRA) payments.

The worksheet is provided for employees to adjust their withholding allowances based on N.C. itemized deductions, federal adjustments to income, N.C. additions to federal adjusted gross income, N.C. deductions from federal adjusted gross income, and N.C. tax credits.

An individual can claim two allowances if they are single and have more than one job, or are married and are filing taxes separately. Usually, those who are married and have either one child or more claim three allowances.

Form NC-4P is for North Carolina residents who are recipients of income from pensions, annuities, and certain other deferred compensation plans. Use the form to tell payers whether you want any State income tax withheld and on what basis. You can also use the form to choose not to have State income tax withheld.

An individual can claim two allowances if they are single and have more than one job, or are married and are filing taxes separately. Usually, those who are married and have either one child or more claim three allowances.

Purpose of form. Complete Form W-4P to have payers withhold the correct amount of federal income tax from your periodic pension, annuity (including commercial annuities), profit-sharing and stock bonus plan, or IRA payments. Federal income tax withholding applies to the taxable part of these payments.

Which form should I use, the NC-4EZ or the NC-4? A4. Any employee may use the NC-4EZ. Employees who will claim zero (0) allowances or only allowances available for taxpayers who expect to claim a tax credit for children will find the NC-4EZ easier to complete.