Missouri DOR Adopts Regulation Concerning Income Tax Withholding From Employees’ Wage

The Missouri Department of Revenue (DOR) May 1 adopted a regulation concerning withholding of income taxes from employees’ wages, for corporate income and individual income tax purposes. The regulation includes measures to clarify that: 1) employers must register with the DOR when deducting taxes, using the Missouri Tax Registration Application or online business registration; 2) upon a business closure, transfer, sale, or wage cessation, the business must close the withholding account by filing a Final Report; and 3) if employer designated withholding agents wish to claim compensation deductions, only one agent will be entitled to a full deduction, the remaining ...