24 May

State Taxes and PEO Reporting Mysteries Uncovered

Posted at

6:04pm

in

Tax administration can be a complicated topic, to say the least. As such, we decided to take an opportunity and concentrate on some of the highlights, as well as provide an overview by state. We hope that this brief overview of PEO reporting and tax administration helps to answer many of the questions that you may have in this ever changing world.

Federal Taxes

Withholding, FICA, OASDI and Unemployment

Reported and paid under VenSure’s account number.

State Taxes

State tax administration is not quite as cut and dry as Federal taxes are. Each state falls in one of a few categories for VenSure clients: PEO reporting, Client reporting or hybrid reporting.

PEO Reporting

Reported and paid under VenSure’s account number and rate.

Client Reporting

Reported and paid under the Client’s account number and rate.

Hybrid Reporting

Reported and paid under the Client’s account number with VenSure’s rate. Most states will require additional forms to be completed to transition to this reporting type, please refer to the overview by state for the forms/links.

Online Access

It is very important to note, VenSure requires online access to client’s accounts for any Client or hybrid reporting states. Clients are to provide a log in or agent authorization access to be processed in order to pay and file their taxes.

To Set Up Online Access

Review the overview by state and follow the instructions provided by the state.  If you need assistance logging in or setting up a new account, please contact the corresponding state.

Copies of Tax Returns

Federal and PEO Reporting States

Since the taxes are filed under VenSure’s account number, all clients are combined into one tax return. Because of this, we are unable to supply individual returns; however, we ARE able to provide a system generated report showing the tax liability by client.  Please send an email request to taxes@vensure.com, and we will forward a copy to you.

Client and Hybrid Reporting States

These returns are filed under your individual account numbers, therefore, you are able to pull copies of tax returns and payment information by logging into your state unemployment account online.

As always, should you have additional questions regarding this subject, please feel free to contact us at taxes@vensure.com.