Minnesota DOR Releases Income Tax Form W-4MNP, State Withholding Certificate for Pension, Annuity Payments

The Minnesota Department of Revenue Jan. 1 released Form W-4MNP, State Withholding Certificate for Pension or Annuity Payments. The individual income and corporate income tax form must be completed to calculate the amount of tax to be withheld from payments or distributions received from an employee deferred compensation plan. The form includes a section that must be completed to determine the allowances for the state withholding tax. It includes another section that must be completed if the applicant receives a pension or annuity and chooses not to have any tax withheld from any distributions. Withholding must be based on allowances ...