Withholding Tax Quarterly Return and Deposit Due Dates

The third quarter (July - September 2023) Minnesota Withholding Tax return is due October 31.

Deposits were due according to your semiweekly or monthly deposit schedule.

Exception: You may make your deposit by October 31 if both of these applied:

• You withheld $1,500 or less of Minnesota withholding tax in the second quarter (April ? June 2023)
• You filed second quarter?s withholding tax return on time

For details on filing and depositing, see the 2023 Minnesota Income Tax Withholding Instruction Booklet and Tax Tables.

Did you know?

The Minnesota Department of Revenue updated Form W-4MNP, Minnesota Withholding Certificate for Retirement Account, Pension, or Commercial Annuity Payments, to reflect recent law changes. It has a revised date of August 15, 2023, and includes these updates:

• Withholding is no longer based on filing status and withholding allowances, and recipients no longer need to calculate allowances
• For periodic payments and nonperiodic distributions, recipients may request the default rate of 6.25%, no withholding, or a specified percentage or amount
• If a recipient does not complete Form W-4MNP, a flat 6.25% withholding rate will apply

If recipients already have a Form W-4MNP on file with their plan administrator, they do not need to complete this revised form unless they choose to do so.

You may use either version of the 2023 Form W-4MNP for the remainder of 2023. Beginning January 1, 2024, you must use the latest version of the form.

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