Mandatory State Tax Withholding on distributions
Posted 21 December 1998 - 05:20 PM
Posted 21 December 1998 - 06:37 PM
Posted 22 December 1998 - 11:22 AM
...but arent't there a couple states that require quarterly tax reporting? I was thinking that New York and California required this. I remember that the information I had from California mentioned that among the possible penalties for failure to comply with their quarterly reporting requirements was jail.
While that's pretty laughable, it makes me wonder about compliance with states' withholding requirements. Has anyone ever suffered any consequences from an outside state for not complying with their withholding requirements? Seems to me that California is going to have a tough time penalizing a tax reporter in Maine.
On the other side, would there be consequences for the individual receiving the distribution?
Posted 22 December 1998 - 01:02 PM