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Tax Agency Codes Table
Overview
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941 Tax Agency
Fields on the Tax Agency Table
For every Tax Agency Code, the Deposit
Due Rule and Standard Deposit
Rule Info sections should be completed.
- Tax
Agency Code. When
adding a new record, enter the code. In the case of a 943 record, a new
code of 943 must be added.
A tax agency code name of 943 that has the Defined
Federal Deposit Record button selected and taxes accumulated for
it causes the system to produce a 943 instead of the standard federal
report for non-agricultural employers.
- Description.
Enter the
description to identify the tax agency.
- Active?
An
active code has the Active checkbox selected, making the code available
and keeping the code in effect as a valid choice. Having the Active
checkbox marked shows that a tax agency is active and keeps any tax codes
with this code selected from having containing
an invalid, orphaned selection.
- Company
Code. The
Company Code for a Tax Agency needs to be assigned on the Tax Agency code
record before a corresponding tax code is in use.
- Tax
ID Number. Define
the tax ID number for the company and this tax agency.
- Escrow
Vendor Cd. To
define the account to be used to create a deposit for the escrow agent
to pay the liability, select the Escrow
Vendor.
Tax Agency Information
- Company
Name. Enter
the tax agency’s name in the Company
Name field.
- Address
1, Address 2, and City. Use
the fields Address 1, Address 2, and City from the tax agency's mailing
address information. For a federal tax agency, this is typically left
blank.
- State.
For a state
or local tax, choose the state code for the tax agency's mailing address
information. For a federal tax agency, this is typically left blank.
CAUTION: For
a federal tax agency with eFiling information, avoid selecting the state.
The state
selection will act as a filter, filtering out needed ePayment information
for federal taxation.
- Zip.
Complete
the zip code for the tax agency's mailing address information. For a federal
tax agency, this is typically left blank.
- Contact
Name, Title, Phone number, Fax number, and Email Address. Complete
the name of the contact person for the tax agency in Contact
Name, and complete his/her business Title, Phone number, Fax number,
and Email Address.
- Reference
Info. Enter
reference information for the Tax Agency into the Reference
Info field. Some tax reports may use this value to provide either
additional percentage information or an additional ID number when required
for tax reporting.
For instance, New Mexico requires both an employer's
number and a CRS ID number on ES903A and WKC forms that are produced from
the New Mexico SUI Tax Report. The CRS ID number should be entered in
the Reference Info field on the NMSUI Tax Agency record to populate on
these forms.
Alternatively, Montana SUI Tax Contribution
Report uses a percentage value from the Reference Info field on the MTSUI
Tax Agency record to break out the Montana UI Administration Fund calculation,
and the SDSUI Tax Agency record similarly uses the reference information
value to break out the South Dakota Investment Fee calculation.
Tax Payment Information
The Tax Agency Codes Table's Tax Payment Information section
defines the type of payment to be generated. For ACH or EFTPS transactions,
payment information includes the tax agency's Bank Account, Transit Number,
and the addenda.
Type of Payment
- To indicate what
type of payment to generate, select one of the following options:
- Check
indicates that a payment check should be generated to pay the tax liabilities
due to this agency.
- ACH
indicates that an electronic ACH transaction should be used to pay the
tax liabilities due to this agency. (For states such as New York and Nebraska,
additional per state and per company information may be required. This
is defined on the E-File Data Screen.)
- EFTPS
indicates that an electronic EFTPS transaction is used to remit tax payments
to this agency using Federal EFTPS Debit batch payment files.
- No
Payment indicates that an external bookkeeping system will be used
to pay the tax liabilities due. Only select the No
Payment option when no payment should be processed by the system
or payroll service provider outside of the system.
Bank Information on the Tax Agency Codes Table
- Bank
Transit Number. The
Bank Transit Number
is the receiving bank for ACH payments to the tax agency.
- Agency
Account #. The
Agency Account # number is the
receiving bank account for ACH payments to the tax agency. For each tax
agency that accepts ACH payments, to define the banking, complete the
following. Click on the Validate->
button to validate the Bank Transit
Number. Enter the Account Number.
To complete this bank information, click on the Ok
button.
- Tax
Reporting Code. Select
the Tax Reporting Code from the
drop-down list. For
instance, a tax agency for federal 941 would need the tax reporting selection:
code 941, with description Federal 941.
- Rates
button. Sub-rates
for Tax Agencies are defined on the Tax Agency Rate Table. The Rates
button provides a shortcut to open the .
ePayment Information
- EFT
Addenda Format. For
each tax agency that accepts ACH or EFTPS payments, select the EFT
Addenda Format for the tax addenda.
- Tax
Type Code. Choose
the tax type code. For
instance, a tax agency for federal 941 would need the tax type: code 94105,
with description 941 Federal.
- Tax
Period End Rule. Choose
the tax type code. For
instance, a tax agency for federal 941 would typically have tax type:
code QTRENDDATE, with description 941 Federal Deposit.
Tax Reporting Information
- Other
Identifier. Define
an alternate Tax Identifier for specific tax filing requirements, such
as those for EFTPS.
- eFile
Data 1, eFile Data 2, and eFile Data 3. eFile
Data 1 through 3 fields are used to provide agency-specific eFile values.
- Credit
Overpayments? Opt
to credit overpayments in the Tax Balancing and Reconciliation module
by selecting Credit Overpayments. To manually manage and adjust for any
overpayments, clear this checkbox.
- Mag
File Reporting? Indicator
to report taxes via magnetic media (includes e-filing) or paper reports.
Track whether reports to this tax agency should be made via magnetic media
(includes e-files) by selecting "Mag File Reporting." Leave
this clear if paper reporting is required or permitted and your organization's
preferred method. Having the "Mag File Reporting" checkbox selected
is what allows information for the tax agency to be included in the e-files
and files for magnetic media tax filing.
Deposit Due Rule and Deposit Due Rule Information
Deposit Due Rule
- The deposit rule
and standard deposit processing information define the rules governing
payment of this tax's liabilities incurred from payroll processing and
should comply with the requirements of this tax agency according to regulatory
guidelines. The Deposit Due Rule
can be defined to follow a standard deposit rule, to use the Federal deposit
rule, or to be the federal deposit record (for 941 or 943).
- Federal
Deposit Record. Only
select the "Federal Deposit Record" option if the tax being
set up is the Defined Federal Deposit Record. Usually, this is the company's
941-tax record. The 941 Federal Deposit is for FIT, FHIEE, FHIER, FICAEE
and FICAER. Only one record per client should be marked as the 941 Federal
Deposit Record, unless multiple companies are defined in the same client
system. If this is the 941 Federal Deposit Record, also complete the Standard
Deposit Process information as appropriate based on the applicable federal
rule.
- Use
Federal Deposit Rule. Select
the "Use Federal Deposit Rule" option if the tax being set up
is going to fall under the same deposit rules as the Defined Federal Deposit
Record (the tax will be due the same as the 941 taxes and the system will
search for the record marked as "Defined Federal Deposit Record")
- Use
Standard Deposit Processing.
Select
the "Use Standard Deposit Processing" option to point the system
to look at the "Standard Deposit Process Info" box just below
the Deposit Due Rule box on this screen to define the standard deposit
processing frequency. Complete the "Standard Deposit Process Info"
box as appropriate based on the applicable processing rules.
Standard Deposit Due Rule Info
- Standard
Deposit Due Rule. Define
the standard deposit processing frequency. According to the company's
required depository frequency for compliance with regulatory tax agencies,
select the standard deposit due rule period: Semi-Weekly, Weekly, Monthly,
Semi-Monthly, Quarterly, or Qtr-monthly (4 times per month), or Check
Date Plus.
- Tax
Deposit Day. Enter
the Deposit Day, which is usually the number of days from the check date
that the deposit is due.
To define as semi-monthly, choose "Qtr-Monthly"
as the standard deposit rule and enter a 2 in the Deposit Day field (as
described in the tip text for the Deposit Day field).
- Accelerated
$ Amt. Enter
any amount that would escalate the deposit to the next rule parameters
in the "Accelerated $ Amt."
field for standard deposit processing. (For example, for the Federal 941
deposit in 2011, this amount is 100,000.00.)
- Accelerated
Dep. Days. Enter
the number of deposit due days for an accelerated deposit.