Washington State Form 17 Withholding Tax In Chicago

State:
Multi-State
City:
Chicago
Control #:
US-00056DR
Format:
Word; 
Rich Text
Instant download

Description

The Washington State Form 17 Withholding Tax in Chicago serves as a crucial document for handling withholding tax obligations related to transactions in the state of Washington. It assists individuals and businesses in filing their withholding taxes accurately to ensure compliance with state tax regulations. The form details how to calculate the amount owed, provides instructions for completion, and outlines submission requirements. It is designed for a variety of users, including attorneys, partners, owners, associates, paralegals, and legal assistants, making it a versatile tool in tax-related matters. Users are encouraged to fill out the form carefully, as inaccuracies can lead to delays or penalties. Editing should be done prior to submission to ensure that all information is correct and complete. This form is particularly useful for legal professionals facilitating real estate or business transactions involving Washington-based withholdings. Overall, the Washington State Form 17 is essential for anyone needing to manage withholding tax responsibilities effectively in Chicago.

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FAQ

Note: The W-4 form 2024 steps are the same as the W-4 form 2025 steps. Step 1: Enter your personal information. Step 2: Account for all jobs you and your spouse have. Step 3: Claim your children and other dependents. Step 4: Make other adjustments. Step 5: Sign and date your form.

Box 17: State income tax withheld. Box 17 reports the total amount of state income taxes withheld from your paychecks for the wages reported in Box 16. Box 18: Local wages. Box 18 reports the total amount of wages subject to local income taxes.

Washington State requires sellers of residential real property to thoroughly disclose material facts on a form called the Residential Real Property Disclosure Statement (often referred to as Form 17).

What Is State Withholding Tax? State withholding tax refers to the deductions that employers make from an employee's paycheck for state income taxes. Each state has its own tax rates and procedures.

2 Box 17: State income tax If you did not withhold state income tax, leave Box 17 blank.

If wages were reported in Box 16, then Box 17 will show the amount of state taxes withheld from your income.

While sellers have always been required to disclose material facts, the Form 17 has been required by law (RCW 64.06. 020) since January 1, 1995. It has undergone ten revisions since its inception, the last of which went into effect in 2021.

Background. Passed by the 2021 Washington State Legislature, ESSB 5096 (RCW 82.87) created a 7% tax on any gain in excess of $250,000 in a calendar year from the sale or exchange of certain long-term capital assets such as stocks, bonds, business interests, or other investments and tangible assets.

If you need assistance in obtaining any of these forms, please call our Business Contact Center at 312.747. 4747 or for TTY 312.742. 1974.

Income tax forms: The State of Washington does not have a personal or corporate Income Tax. Warning: to protect against the possibility of others accessing your confidential information, do not complete these forms on a public workstation.

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Washington State Form 17 Withholding Tax In Chicago