EPY: Should Minnesota Tax Withholding Be Rounding To The Nearest Whole Dollar? (Doc ID 2920064.1)

Last updated on APRIL 15, 2024

Applies to:

Goal

Should Minnesota tax withholding be rounding to the nearest whole dollar?

2022 Minnesota state statute:

"270C.301 ROUNDING OF DOLLAR AMOUNTS REPORTED ON TAX FORMS.
Where not otherwise provided by law, in computing the dollar amount of items reported on any return or other document, and accompanying schedules, filed with the commissioner, money items may, in the discretion of the commissioner, be rounded off to the nearest whole dollar amount, disregarding amounts less than 50 cents and increasing amounts of 50 cents to 99 cents to the next highest dollar".
 

Solution

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