If you own and operate a business in the state of Michigan and pay employee wages, the Michigan Department of Treasury is reminding you that annual wage statements are due by the end of the month.
The Treasury has issued an alert that all wage statements must be submitted to their offices by January 31, 2020.
Business taxpayers are encouraged to submit their wage statements — such as W-2, W-2G, 1099-R and 1099-MISC — in a timely manner to the Michigan Department of Treasury on or before that date.
Business taxpayers may electronically upload their wage statements by using Michigan Treasury Online (MTO). In fact, employers with more than 250 employees must file their wage statements in that manner — electronically.
Any business owner in need of more information about MTO and how to file wage statements electronically, can visit on line at this link: http://www.michigan.gov/mtobusiness
While the wage statements are due on or before January 31st, the Sales, Use and Withholding Taxes Annual Return (Form 5081) is still due on February 28, 2020. Wage statements filed on or before the January 31st due date need not be submitted again with Form 5081.
State Deputy Treasurer Glenn White says, “Business taxpayers should keep these deadlines in mind when submitting wage statements and filing returns.” White, who oversees Treasury’s Tax Administration programs, adds, “If deadlines are missed, there could be processing delays and penalties applied.”
Public Act 118 of 2018 made the state’s wage statement deadline the same as required by the Internal Revenue Service.
To learn more about Michigan’s tax system, you can go to www.michigan.gov/taxes or follow the state Treasury Department on Twitter at @MITreasury.
