IRS Releases New State Tax Changes for 2015

The IRS has released state and local tax changes that are scheduled to be applied in 2015. Find your state below to see what changes you’ll need to make in order to stay tax compliant this year!

Alaska

Minimum wage increased to $8.75 effective 90 days after election results are certified (on or around 2/28/2015.

Arkansas

Minimum wage increased to $7.50 effective 1/1/2015; supplemental wage tax rate decreased; withholding tables revised.

California

2015 withholding tables released.

Kentucky

2015 withholding tables released.

Maine

2015 withholding tables released, electronic filing mandated.

Maryland

Carroll County income tax rate decreased; EITC notice mandated.

Massachusetts

Paid sick leave ballot measure approved —  employees may use earned sick leave to care for a physical or mental illness, to care for sick family members, to attend medical appointments, or to address the physical or legal effects of domestic violence.

Michigan

Electronic filing threshold for UI quarterly reports lowered.

Nebraska

Minimum wage increased to $8.00 effective 1/1/2015, tip credit increased

New Jersey

UI, TDI, FLI employer and employee contribution rates adjusted.

Ohio

Electronic filing and payment mandated for withholding taxes.

Rhode Island

TDI taxable wage base increased to $21,200.

South Dakota

Minimum wage increased to $8.50 effective 1/1/2015, tip credit decreased.

Continue to check with Optimum Solutions’ blog for more federal, state and local tax updates as they come through. For more help staying compliant, check out our Payroll Software and OptiTax filing service today!

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