![]() Send the federal Forms W-2s (employees) and 1099s (for contractors) and MW-3s by Jan. Per Montana Rule 42.17.203, you must keep records for all of your employees, even those who have been terminated, for at least five years. Step 8: Document and Store Your Payroll Records State unemployment insurance taxes (SUTA): You must pay these taxes online.However, you are welcome to pay withholdings every pay period. Montana Income Taxes: The state will send you the schedule for payments.To pay federal taxes, you can pay online using the EFTPS. Step 7: File payroll taxes with the federal and Montana state government. When it’s time to pay employees, you can opt for direct deposit, check, cash, or pay card. To calculate payroll, you’ll need to compute several totals, including total work hours (use our free time card calculator), gross pay, taxes, deductions to withhold, etc.Īn Excel payroll template and payroll software can also simplify the work and be more accurate than performing the calculations by hand. Step 6: Calculate Payroll and Pay Employees Maybe, try Deskera for to manage your attendance. Or, time and attendance software makes it easier. Many small businesses create their timesheets using a free timesheet template. You must pay employees within ten days of the pay period unless a timesheet is turned in late, so it’s important to gather and approve work hours for all employees you’re paying an hourly rate. Step 5: Collect, Review, Approve Timesheets ![]() Forms include W-4, I-9, and direct deposit information. Step 4: Collect employee payroll formsĬollecting payroll forms is easiest if you do it during onboarding. Direct deposit is most convenient, but check and cash payments are also accepted. You’ll also need to decide how you’ll pay employees. Montana has a few rules about pay frequency to set the best schedule for your business and workers. Register online or mail the Montana UI-1 to Unemployment Insurance Division You must also register for an employer account number through the Montana Unemployment Insurance Division. Once approved, you can sign up for a Transaction Portal (TAP) account. You need your EIN, dates your employees started working in Montana, general contact information, and legal business and trade name or Doing Business As (DBA). Step 2: Register with the Montana Department of Revenue. ![]() Step 1: Set Up your Business as an EmployerĪt the federal level, you need to apply for an Employer ID Number (EIN) and create an account in the Electronic Federal Tax Payment System (EFTPS). Here are a few steps to do your payroll in Montana. Click here for free trial Step-to-Step Guide on Payroll in Montana ![]()
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