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Form W-2AS Minnesota: What You Should Know

For more information on W-2 tax forms, click here. Employers may need to report any unpaid wages on: a). Your 2024 or subsequent Form W-2. b). Your 2024 or subsequent Form W-2A or other approved W-2 form. Income Tax Forms for Minnesota — Annual & Quarterly Taxes for Individual Income Tax Reporting The Minnesota Department of Revenue, Employment and Economic Development administers the Minnesota individual income tax system and is responsible for the following: • All personal, business, and sales tax for Minnesota residents. Employees' Annual and Quarterly Individual Tax Return Schedule Employment taxes are imposed on both individual and business profits, including both wages and self-employment income (other than wages paid to an employee who is an independent contractor). An individual's gross wages, self-employment income, or both includable in gross income are deducted either (1) from the employer's gross wages, (2) from the individual's gross wages, (3) from the individual's self-employment income, or (4) from the wage or self-employment tips, whichever is greater, depending on the tax rate applicable to the employment. For a discussion of the various income brackets, see Figure 3 — Individual Income Tax Brackets. Personal and business income and deductions are reported on the individual income tax return as tax withheld (or withheld and credited to employee or self-employed sources) from the employee's or self-employed source's wages, self-employment income, or both before any deductions for federal income taxes. In Minnesota, each employee is required to file an individual income tax return annually as the first taxpayer and is assessed an employment and business income tax based on wage and business gross wage and gross self-employment income. The total state and federal income taxes paid by Minnesota taxpayers that are currently unpaid are deducted from the wages and income tax withheld and credited to employees and the employer, respectively, before any deductions for federal income taxes are made. Businesses pay a business tax on wages, self-employment income, and tips. Minnesota's employers with at least 250,000 and with more than 100 employees must pay all taxes due on or before the fifteenth day in March. Nonresidents of Minnesota that were present outside of Minnesota for at least 12 months in 2024 will be taxed on their Minnesota personal and business income as if they had been in Minnesota for the full year.

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