Minnesota Income Tax Withholding Instruction Booklet And Tax Tables - Minnesota Department Of Revenue - 2016 Page 8
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34Deposit Information
There are two deposit schedules - semi-
How to Make Deposits
Deposit Schedule Exception
weekly or monthly - for determining when
You may deposit the entire Minnesota tax
Deposit Electronically
you deposit income tax withheld. Tax is
withheld for the current quarter if:
You can make deposits over the Internet
considered withheld at the time employees
using e-Services, our electronic filing and
• you withheld $1,500 or less in Minnesota
are paid, not when the work is performed.
paying system. Go to our website and login
tax in the previous quarter, and
For example, if an employee is paid in
to e-Services.
• you filed that quarters return on time.
January for work performed in December,
If you do not have Internet access, call
Quarterly deposits are due April 30, July 31,
the tax is considered withheld in January,
1-800-570-3329 to deposit by phone. For
October 31 and January 31 of the following
not December. Your Minnesota deposit
either method, follow the prompts for a
year.
schedule is determined by your federal
business to make a withholding tax pay-
deposit schedule and the amount of tax you
Deposits must be made electronically, if
ment. When paying electronically, you must
withheld.
required, or postmarked by the U.S. Post
use an account not associated with any
Office (not by a postage meter) on or before
When depositing tax, include all Minnesota
foreign banks.
the due date. If the deposit due date falls on
income tax withheld from:
a weekend or holiday, the due date is ex-
For additional information, see the
• employees;
tended to the next business day. For details,
Withholding Tax Help link in e-Services.
• corporate officers for services performed;
see “Due Dates for Filing and Paying” on
and
Deposit by Check
our website.
• pensions and annuities.
If you are not required to deposit electroni-
Annual Deposit Schedule
cally, you may choose to pay by check. You
Deposit Schedules
If you meet the requirements to be an annu-
must mail your deposit with a personalized
Most employers are required to file with-
al filer (see page 9) and you withheld $500
payment voucher.
holding tax returns quarterly. Quarterly
or less prior to Dec. 1, the entire amount of
Go to our website and click Make a
filers must deposit Minnesota tax according
withholding may be paid when the annual
Payment under For Businesses. Enter the
to their federal deposit schedule.
return is due. The annual return is due Feb-
required information and print the voucher.
ruary 28. However, annual filers must make
Semiweekly Deposit Schedule
A personalized scan line will be printed at
deposits each time the total tax withheld
You must deposit Minnesota withholding
the bottom of the voucher using the infor-
exceeds $500 during the year. Deposits are
tax following a semiweekly schedule if:
mation you provided.
due the last day of the month following the
month in which amounts withheld exceed
• you are required by the IRS to deposit
If you don’t have Internet access, call 651-
$500 (except December).
following the semiweekly depositing
282-9999 or 1-800-657-3594 to request
schedule; and
payment vouchers be mailed to you.
Electronic Deposit
• you withheld more than $1,500 in Min-
Your check authorizes us to make a one-
Requirements
nesota tax in the previous quarter.
time electronic fund transfer from your
You must make your deposits elec-
account. You will not receive your canceled
If your payday is:
tronically if you meet one of the following
check.
• Wednesday, Thursday or Friday, your de-
requirements:
posit is due the Wednesday after payday.
For additional payment methods including
• you withheld a total of $10,000 or more
• Saturday, Sunday, Monday or Tuesday,
ACH Credit Method, Credit or Debit card,
in Minnesota income tax during the last
your deposit is due the Friday after
and Bank Wire, see page 11.
12-month period ending June 30;
payday.
• you are required to electronically pay
One-day Rule. Minnesota did not adopt
any other Minnesota business tax to the
the federal “one-day rule” for federal liabili-
Department of Revenue; or
ties over $100,000. If you meet the federal
• you use a payroll service company.
one-day rule requirements, you can still
deposit your Minnesota withholding tax
If you’re required to pay business taxes elec-
according to your deposit schedule.
tronically for one year, you must continue to
do so for all future years.
Monthly Deposit Schedule
If you are required to deposit electronically
You must deposit Minnesota withholding
and do not, a 5 percent (.05) penalty applies
tax following a monthly schedule if:
to payments not made electronically, even if
• you are required by the IRS to deposit
a check is sent on time.
following the monthly depositing sched-
ule and;
• you withheld more than $1,500 in Min-
nesota tax in the previous quarter.
Monthly deposits are due by the 15th day of
the following month.
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