North Carolina Annual File Withholding Reconciliation

State:
North Carolina
Control #:
NC-INC-AM
Format:
Word; 
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Description

The North Carolina Annual File Withholding Reconciliation form is designed for businesses that need to report and reconcile state income tax withholding for employees. This form is crucial for ensuring compliance with state tax requirements and aids in accurate reporting of withholdings. It provides a structured layout allowing users to list employee information, total earnings, and the taxes withheld for the year. Filling out the form involves detailing specific information about each employee, including their names, Social Security numbers, and the amounts withheld from their wages. Edit instructions emphasize accuracy to avoid penalties and ensure smooth processing by the state tax authority. Attorneys, partners, owners, associates, paralegals, and legal assistants will find this form particularly useful for maintaining accurate financial records and fulfilling legal obligations related to employment laws. This reconciliation is also beneficial for evaluating payroll tax compliance, assisting in audits, and preparing for future tax filings.
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FAQ

North Carolina Median Household Income Every taxpayer in North Carolina will pay 4.99% of their taxable income for state taxes.

State withholding taxes must be withheld from employee wages and remitted to the North Carolina Department of Revenue. To register with the State of North Carolina, complete an Application for Income Tax Withholding (Form NC-BR), apply online or contact the Department of Revenue at (877) 252-3052.

For Tax Year 2023, the North Carolina individual income tax rate is 4.75% (0.0475). For Tax Year 2022, the North Carolina individual income tax rate is 4.99% (0.0499). Tax rates for previous years are as follows: For Tax Years 2019, 2020, and 2021 the North Carolina individual income tax rate is 5.25% (0.0525).

State Withholding Taxes To register with the State of North Carolina, complete an Application for Income Tax Withholding (Form NC-BR), apply online or contact the Department of Revenue at (877) 252-3052.

FORM NC-4 BASIC INSTRUCTIONS - Complete the NC-4 Allowance Worksheet. The worksheet will help you determine your withholding allowances based on federal and State adjustments to gross income including the N.C. Child Deduction Amount, N.C. itemized deductions, and N.C. tax credits.

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North Carolina Annual File Withholding Reconciliation