Category Archives: State News

Minimum wage increases for 2014

On Jan. 1, the minimum wage in 13 states will increase to these amounts.

State New minimum wage
Arizona $7.90
Colorado $8.00
Connecticut $8.70
Florida $7.93
Missouri $7.50
Montana $7.90
New Jersey $8.25
New York $8.00
Ohio $7.95
Oregon $9.10
Rhode Island $8.00
Vermont $8.73
Washington $9.32

http://www.usatoday.com/story/money/business/2013/12/29/states-raising-minimum-wage/4221773/

NC Employers Must Collect New Form NC-4 EZs or NC-4s

The North Carolina General Assembly recently enacted the Tax Simplification and Reduction Act which becomes effective for taxable years beginning on or after January 1, 2014. Under this new law, all taxpayers will pay a lower rate and be granted a higher standard deduction. Taxpayers may no longer claim a personal exemption for themselves, their spouse, children, or any other qualifying dependents. Additionally, many deductions and tax credits that impact North Carolina withholding tax are no longer available for tax years beginning on or after January 1

As a result of this Act, every employer must have all employees provide a new Employee’s Withholding Allowance Certificate, either Form NC-4 EZ or Form NC-4.

 

  • The new form must be completed by the employee and provided to the employer so the correct amount of State income tax is withheld for any payment periods beginning on or after January 1, 2014.

 

Likewise, all recipients of pension or annuity payments must complete and provide to their payer a new Withholding Certificate for Pension or Annuity Payments, Form NC-4P ,(Revised 11/25/13) in order to withhold the correct amount of State income tax for any pension payment periods beginning on or after January 1, 2014.

 

NCDOR will notify employers and pension payers of the new requirement by mail.

 

 

Questions

Questions: employers or pension payers with questions may call this special help number: 1-877-252-4487. The number will be available until Feb. 28, 2014.