Dr. Adrienne B. Haynes, Esq.
Contributor
After your business entity is formalized with the Missouri Secretary of State and you have your EIN and governing documents, there may be other state agencies that the business needs to register and remain in compliance with. Please see below for an overview of agencies to register with once you’re ready to run your first payroll.
Income Tax Withholding and Unemployment Tax
Most companies are liable for state unemployment if they pay more than $1,500 of wages in a calendar quarter or have an employee for some part of a day in each of 20 different weeks.
To pay income tax and unemployment tax in Missouri, companies must register with the Missouri Department of Revenue and the Department of Labor and Industrial Relations, Division of Employment Security.
New employers in Missouri can register for both income tax withholding and unemployment tax together by visiting the Missouri Online Business Registration website. Once on the site, click Continue at the bottom of the page to begin the process, and make sure to register for withholding tax and unemployment tax. Through this portal, companies can also register for other tax types: Sales, Vendor’s Use, Consumer’s Use, Withholding, Unemployment, Corporate Income/Franchise.
After you register with the Missouri Department of Revenue and the Department of Labor and Industrial Relations, Division of Employment Security, you should receive your account numbers in 1–2 weeks. Keep this time...
Read Full Story:
https://news.google.com/rss/articles/CBMikgFBVV95cUxOV3FzZkV2ZGFqa3JFbngyT2hV...