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how to setup withholding to calculate and simultaneously deduct Federal and State withholding tax

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edited Jun 1, 2020 10:28PM in Tax & Global 1 comment

Summary

how to setup withholding to calculate and simultaneously deduct Federal and State withholding tax

Content

. An Organization or individual (Supplier) who does not reside or have offices in California (CA) provide services to a California based company (ABC Inc.) ; ABC Inc. may also pay rent or royalties . In this case the assumption is, Federal 1099 reporting is executed, and CA withholding tax is applicable. Federal 1099 is applicable because the Supplier is not an employee of ABC Inc. and CA state tax is applicable because the Supplier is not a resident of CA. Taxation is applicable by…

a. Checking Federal Reportable in Supplier Profile and selecting Federal Income Tax Type MISC7, this will ensure data is capture for 1099-NEC Box 1.

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