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IDAHO: Payroll law update, July-Dec. 2011

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in Office Management,Payroll Management

Income tax withholding. Employees must receive their 2011 W-2 forms by Feb. 1, 2012; forms must be filed by Feb. 29, 2012.

In addition, all the other state information required to be shown on employees’ W-2 forms, employers must show the Idaho withholding permit number. Em­­ployers must file paper or electronic W-2 and 1099 forms by the last day of February. (Reg. 35.01.01.874, Reg. 35.01.01.830)

Pass-through entities (i.e., S corps, partnerships, limited liability companies) must withhold income taxes at the highest marginal rate from cash distributions made to nonresident individuals. Withholding isn’t required if nonresidents’ share of taxes is less than $1,000 or they elect to have their entities pay and report their taxes. Withholding also isn’t required if individuals file certifications of residency with their entities on forms approved by the Tax Commission. Amounts withheld must be remitted by Jan. 31 of the following year. (Reg. 35.01.01.877)

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