MA DoR M-941 2000 free printable template

M-941 MASSACHUSETTS DEPARTMENT OF REVENUE WQ EMPLOYER S QUARTERLY RETURN OF INCOME TAXES WITHHELD YOU MUST FILE THIS FORM EVEN THOUGH NO TAX MAY BE DUE. FEDERAL IDENTIFICATION NUMBER BE SURE THIS RETURN COVERS THE CORRECT PERIOD NUMBER OF EMPLOYEES FROM WHOM TAXES WERE WITHHELD FOR QTR ENDING Note An entry must be made in each line. Enter 0 if applicable. Check here if EFT payment. BUSINESS NAME IF ANY INFORMATION IS ADDRESS BUSINESS INCORRECT SEE CITY/TOWN STATE ZIP INSTRUCTIONS* Check if...

How to fill out MA DoR M-941

How to fill out MA DoR M-941

1. Start with the form header. Fill in the taxpayer's name, address, and identification number.
2. Indicate the tax period for which you are filing the M-941.
3. Complete the total gross receipts line with your business’s total income for the period.
4. Calculate and enter the total deductions if applicable.
5. Compute the taxable income by subtracting deductions from gross receipts.
6. Determine the appropriate tax due based on the taxable income and fill it in.
7. If applicable, enter any estimated payments or credits.
8. Sign and date the form to certify that the information provided is accurate.

Who needs MA DoR M-941?

1. Anyone who operates a business in Massachusetts and generates taxable income is required to fill out the MA DoR M-941.
2. This includes sole proprietors, partnerships, corporations, and other entities subject to state taxation.

Instructions and Help about MA DoR M-941

In this example we'll be preparing form 941 and Schedule B from Mayfield's candy shop for the third quarter using the information provided here the number of employees total pay withholding and tax liability dates and amounts are obtained from the payroll registers for the quarter the basic business information and the reporting period is filled in at the top of the form in part one the number of employees the total compensation paid to those employees and the amount of income tax withheld from that compensation is entered starting on line 5a enter the taxable Social Security wages in column one if any employees have exceeded the wage base for Social Security withholding this number will be smaller than the amount on line two for Mayfield's the wages are all taxable for Social Security multiply this number by twelve point four percent six point two percent for employee and six point two percent for employer and enter it in column two enter any tips subject to Social Security on the next line in column one multiply this amount by twelve point four percent and record it in column two employees at Mayfield's are not tipped employees enter the Medicare taxable wages and tips on the next line in column one multiply this amount by two point nine percent and record it in column two line 5d is for additional Medicare withholding applicable when an employee earns more than two hundred thousand dollars in a calendar year Mayfield's has no employees in this category the additional Medicare tax is 0.9 percent withheld only from the employees wages and tips the employer does not match this amount on line 5e some the amounts in column two for rows 5a through 5d if the business has received an IRS notice and demand for tax due on unreported tips that amount is recorded online 5f total lines three five e and five F and record that amount on line six this is the total calculated tax including federal income tax withheld during the quarter at this point it is necessary to complete part two of form 941 if your business is a monthly depositor or Schedule B if your business is a semi-weekly depositor since Mayfield's is a semi-weekly depositor we will complete Schedule B the purpose of Schedule B is to provide information on the days and the amounts of the tax liability if you are wondering how the IRS would know if you made the right deposits on time this is where you would report the pay dates, and they will use this information to ensure your deposits were on time and the correct amount the days should correspond to pay dates not the dates you made the deposits enter the basic business information at the top of the form including the quarter and the calendar year using the tax liability from the payroll register and noting that this includes federal income tax withheld the employees share of Social Security and Medicare and the employers share of Social Security and Medicare record the amounts for each pay period starting with July 5th then July 19th and the pay...

People Also Ask about

What is ma Form M 941?

M-941 — Employer's Return of Income Taxes Withheld.

Is Massachusetts a mandatory withholding state?

As an employer, you must withhold Massachusetts personal income taxes from all Massachusetts residents' wages for services performed either in or outside Massachusetts and from nonresidents' wages for services performed in Massachusetts.

What is m941 tax form?

Employers use Form 941 to: Report income taxes, Social Security tax, or Medicare tax withheld from employee's paychecks. Pay the employer's portion of Social Security or Medicare tax.

What is Form 941 and when must it be filed?

You're required to file a separate Form 941 for each quarter (first quarter - January through March, second quarter - April through June, third quarter - July through September, fourth quarter - October through December). Form 941 is generally due by the last day of the month following the end of the quarter.

What does MA wages subject to withholding mean?

Withholding refers to income tax withheld from wages by employers to pay employees' personal income taxes.

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What is MA DoR M-941?

MA DoR M-941 is a tax form used in Massachusetts for reporting and paying sales and use taxes.

Who is required to file MA DoR M-941?

Any business or individual that is registered to collect sales and use tax in Massachusetts is required to file MA DoR M-941.

How to fill out MA DoR M-941?

To fill out MA DoR M-941, provide your business information, report the total sales, compute the amount of tax due, and submit the form along with payment by the due date.

What is the purpose of MA DoR M-941?

The purpose of MA DoR M-941 is to ensure the proper collection and remittance of sales and use taxes to the Commonwealth of Massachusetts.

What information must be reported on MA DoR M-941?

MA DoR M-941 requires reporting the total sales, tax-exempt sales, taxable sales, and the total tax due for the reporting period.