• Regulatory , Tax updates ,
• 30 Jun

Kansas Department of Revenue has released Notice 17-02. This affects income tax and withholdings.

The 2017 Legislature increased income tax rates retroactively for 2017 and has increased them moving forward into 2018.

If you haven’t or are unable to make the necessary changes now, you can avoid penalties.

Section 4  of the bill subsection f states:

“No taxpayer shall be assessed penalties and interest arising from the underpayment of taxes due to changes to the rates in subsection (a) that became law on July 1, 2017, so long as such underpayment is rectified on or before April 17, 2018.”

Here is a link with more information!

https://www.ksrevenue.org/taxnotices/notice17-02.pdf

New York City and Yonkers Income Tax increased

New York State Department of Taxation and Finance Notice N-17-5 

For Forms and more information click here!

State of Illinois tax increased

Illinois State Department of Revenue Bulletin 

Illinois Legislative change P.A. 100-2 has the above link and other links to more details.

Idaho State Tax Increased

These are typically updated every June. Here is the link to the packet for 2017.

Always contact your certified tax professional when making updates. If you are using accounting software, it’s always good to double check withholdings to make sure rate updates have taken effect.