§ 59-10-407. Withholding tax prepayments.

(1) This section does not apply to an employer filing a withholding tax return for a period under this part other than a quarterly period.

(2)

(a) Any employer whose withholding tax liability under Section 59-10-402 is estimated to average an amount designated by the commission by rule shall make a monthly prepayment of the amount required to be paid by Section 59-10-406 for each monthly period of each quarterly period.

(b) An employer that makes a monthly prepayment described in this Subsection (2) shall make the monthly prepayment as provided in this section until the commission notifies the employer in writing.

(c)

(i) An employer shall file a form with a monthly prepayment.

(ii) The commission shall prescribe and furnish the form described in Subsection (2)(c)(i).

(iii) An employer shall make a monthly prepayment and file the form described in Subsection (2)(c)(i) on or before the last day of the month after the end of each monthly period of each quarterly period.

(3) In determining whether an employer's estimated withholding tax liability will average an amount that requires a monthly prepayment, the commission may consider:

(a) a return filed pursuant to Section 59-10-406; or

(b) information in the commission's possession or that may come into the commission's possession.

(4) The penalties and interest for failure to make a monthly prepayment and file the form described in Subsection (2)(c)(i) by the due date described in Subsection (2)(c)(iii) are the same as the penalties and interest under Sections 59-1-401 and 59-1-402 relating to payment of a tax, fee, or charge or filing a return.

Amended by Chapter 33, 2009 General Session