Newark New Jersey Form W-9 2024-2025

Newark New Jersey Form W-9: What You Should Know

STATE OF NEW JERSEY W-9 Tax Return Information Payroll/Payee Name and Telephone Number — You must report the name of each employer and the name of each payer (the employee) for both the employee and the payer on your federal and state income tax. See Payroll/Payee Name and Telephone Number for more information about these. For the employee, the name of your employer and the name of each payer (the employee) is required if you receive more than 600 in annual income. For the payer, the name of your employer and the name of each payer (the employee) is required if you receive less than 600 in annual income. Part One: New Jersey's Employers — The name of the payer on your federal return is required for all residents of New Jersey. The state does not report the payer's tax information on the payroll stub, but it should be indicated next to the employee name. Part Two: New Jersey's Employees — New Jersey requires employers to withhold tax from each payroll check if the payer has more than five employees. For employees who fall below the standard number of hours of work, the employer must withhold a minimum amount per pay period. The state tax withholding system was amended in November 2015. New Jersey payroll tax withholding, like state income tax withholding, was first established in the 1920s, so these rules will differ from federal withholding. For both, New Jersey employers must withhold 6.25% sales and use, but 7.65% for lodging and food expenses. Note that the 7.65% income withholding rate applies only to the payers, not to the payer's employees. New Jersey employers must withhold taxes on the payer's federal income tax return and on all state and local income tax returns filed during the pay period, provided the payer is a business owner and not a nonprofit corporation. For the employee, New Jersey employers are not required to withhold state income tax. Part Three: Amount to Collect — New Jersey may require the payee to report and remit to the Tax Commissioner the following amounts: State Tax — 5.0% of each pay period over 600.00; and 5.25% of each pay period over 2,600.00. If the payer's annual income is 500 or more, New Jersey is exempt from collecting the 2.

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