MO HB502

Raises the threshold for annual withholding tax return filing from $20 to $100 per quarter, allowing more small employers to file once per year instead of quarterly

Employers with less than $100 in withholding taxes in each of the four preceding quarters may file a single annual return by January 31st of the following year

Clarifies that annual filing is only available to employers who do not meet the requirements for quarterly or monthly filing

Director of Revenue retains authority to adjust the annual filing threshold but cannot set it below $100 (increased from $20 minimum)

Amends Section 143.221, RSMo, as part of the 98th General Assembly's First Regular Session