Depositing and Reporting Withheld Taxes: Mississippi
Federal law and guidance on this subject should be reviewed together with this section.
Author: Vicki M. Lambert, The Payroll Advisor
- The deposit thresholds and due dates are based on how much an employer withholds during a month. See Deposit Thresholds and Schedules.
- Employers that do not deposit electronically must complete the appropriate form. See Forms.
- Mississippi employers must deposit taxes on either a monthly, quarterly or accelerated basis. See Deposit and Filing Due Dates.
- Penalties are imposed for failure to comply with the income tax depositing and filing requirements. See Penalties.
- Employers are encouraged, but not required to make deposits by electronic funds transfer (EFT). See Electronic Deposit Requirements.
- Employers are required to file an annual reconciliation return by January 31 for the prior year if they file paper copies of Form W-2. See Annual Reconciliation Forms and Filing Deadlines.
- Certain employers are required to file Forms W-2, Wage and Tax Statement, electronically with the state revenue department. See Electronic and Magnetic Media Form W-2 Reporting Requirements.