State witholding compliance deadline upcoming

The deadline is coming up for employers and payroll companies to comply with revised state Department of Revenue Services withholding tables and withholding calculation rules.

The department released the changes made during the 2015 legislative session in early August. Companies must apply the revisions by Aug. 31.

Changes to the withholding schedules and rules include:

• A delay in the scheduled increase in the personal tax exemption and tax credit for single filers by one year. The personal exemption and credit for single filers, withholding code F, in effect for 2014 will remain in effect for the 2015 tax year. The scheduled increase will resume in tax year 2016.
• The addition of two new tax rates for upper-income earners.
• New recapture amounts for taxpayers earning in excess of $200,000 a year.

More information is available at ct.gov/drs.