The N.C. Department of Revenue has published a notice that covers withholding tax law changes for employers, pension payers, and others that withhold North Carolina income tax.
The important changes for 2018 and 2019 addressed in the notice include:
- A lower individual income tax rate and an increase to the North Carolina standard deduction
- A change to the definition of wages
- A new requirement to file a state amended return when a taxpayer voluntarily files an amended return with the Internal Revenue Service
- A change to the due date of Form NC-3 for certain taxpayers
- New penalties applicable to certain informational returns