Human Resources and ELM - PSFT (MOSC)

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Colorado W4

edited Mar 30, 2022 1:20PM in Human Resources and ELM - PSFT (MOSC) 3 commentsAnswered

Can you tell if there was a table update for Colorado Income Tax Withholding included in the tax updates/releases? It seems that the functionality would almost need to follow the Federal where both 2019 and 2020 forms are eligible and would direct to different withholding tables? (I really have no idea how the system is managing that).

https://taxnews.ey.com/news/2019-2253-colorado-issues-new-2020-withholding-worksheet-for-use-with-the-2020-federal-form-w-4-form-w2-filing-reminders

Unlike most other states that have adopted a state-specific withholding certificate, Colorado intends to continue its use of the federal Form W-4 for determining state income tax withholding. Accordingly, it was necessary for the Department to issue guidelines on the computation of state income tax withholding for Forms W-4 submitted in 2020 and later years where the option to claim personal allowances is no longer

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