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Regular remitter is a new employer or an employer whose Average monthly withholding amount (AMWA) two years ago was less than $15,000. Regular remitter has to remit Payroll deductions on or before 15th day of the month following the month the payroll deductions were made.
Quarter remitters remits Payroll deductions once every three months. To qualify for quarterly remitting, an employer has to:
Perfect compliance history may qualify you paying payroll remittance quarterly or corporate income tax installments quarterly. It saves you administration costs of filing and remitting taxes. And it also provides the benefits of tax deferral.
There are two groups of accelerated remitters: threshold 1 and threshold 2.
Average monthly withholding amount (AMWA) is used to determine which type of payroll remitter you are: regular remitter, quarterly remitter, or accelerated remitter.
Payroll remittance due dates are always based on when an employee is paid for his or her services (payday) rather than the pay period for which the services are rendered.
As an employer, you have to deduct, remit, and report payroll deductions. You may be liable for penalties and interest for failure to do so.
This following table is the remittance rates on or after April 1, 2013 for businesses that provide services.
This following table is the remittance rates on or after April 1, 2013 for businesses that purchase goods for resale.
Place of business means any premises, facility, or installation used to carry on business, whether or not it is used exclusively for that purpose. Premises, facilities, or installations may be considered to be a place of business whether they are owned or rented, or, in some cases, where they are simply available to the business.