Montana Employment Statement
Description
How to fill out Employment Statement?
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FAQ
Montana requires employers to withhold state income tax from employees' wages and remit the amounts withheld to the Department of Revenue. Every employer in Montana that pays wages must withhold the state tax. Nonresident employers must withhold tax from wages paid for service provided within Montana.
Montana does not recognize the federal exempt status available on the federal Form W-4. Therefore, exemption from withholding for federal purposes does not exempt you from Montana income tax withholding.
Wage withholding is the money held back by an employer to pay an employee's income tax. This is the employee's money, held in trust by the employer until paid to the state. Employers can find more information in the Montana Withholding Tax Table and Guide.
August 2, 2021 by Montana Department of Revenue. A completed Form MW-4 is used by employers to determine the amount of Montana income tax to withhold from wages paid. This form allows each employee to claim allowances or an exemption to Montana wage withholding when applicable.
Montana is a relatively taxpayer-friendly state. There are no sales taxes in Big Sky Country and property taxes are below the national average, with an average effective rate of just 0.83%. The state does have a personal income tax, though, with rates ranging from 1% to 6.9%.
If you are a new business, register online with the Montana Department of Labor and Industry. You can also register via phone at 1-800-550-1513. If you already have a Montana UI Account Number, you can look this up online or by contacting the agency at 406-444-3834.
Step-by-Step Guide to Running Payroll in MontanaStep 1: Set up your business as an employer.Step 2: Register with the Montana Department of Revenue.Step 3: Set up your payroll process.Step 4: Collect employee payroll forms.Step 5: Collect, review, and approve time sheets.More items...?
Montana Payroll Laws, Taxes & Regulations. Naturally, you need to begin by following federal law for income taxes, Social Security and Medicare (FICA), and federal unemployment insurance (FUTA). You'll pay FICA taxes of 6.2% (Social Security) and 1.45% (Medicare).
