North Carolina DOR Issues Important Notice on Updates to Withholding Tax

The North Carolina Department of Revenue (DOR) Aug. 23 issued a notice on updates to withholding tax for individual income and corporate income tax purposes. The DOR provides information on topics including: 1) the expiration of the automatic penalty waiver for failure to file Form NC-3 returns due on or after Jan. 1, 2022, and required W-2 and 1099 statements in the prescribed format; 2) the waiver of the administrative requirement to file federal forms 1099-MISC and 1099-NEC if statements don’t report North Carolina income tax withheld; 3) the new filing option for reporting state income tax withheld from non-wage ...