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Submission of Illinois Withholding


Policy Statement
The University of Georgia will comply with Illinois Department of Revenue requirements regarding the submission of taxes withheld from employees’ paychecks.
Reason for policy
The University of Georgia is required to follow State of Illinois guidelines for depositing Illinois state income taxes as per the Illinois Department of Revenue’s Publication 131.
Procedures

The Payroll Department deposits the total amount of Illinois tax withheld from employees’ paychecks plus any adjustments made to Illinois tax since the last deposit. Payments are due within 7 days of the pay date, which is used as the effective/settlement date.

Payment and tax return due dates are determined by the total amount withheld during the “look-back” period, which is the one-year period ending on June 30 of the immediately preceding calendar year. Per this determination UGA is a semi-weekly filer for Illinois withholding tax. UGA must deposit Illinois taxes within 7 days of the pay date using online Form IL-501, Payment Coupon, to make payments. The Payroll Department must also prepare and submit Form IL-941, Illinois Withholding Income Tax Return, on a quarterly basis. Returns must be filed by the last day of April, July, October, and January. UGA is not required to file an annual return.

Forms/Instructions

UGA is required to withhold Illinois income tax at a rate of 5 percent. Publication 130, “Who is Required to Withhold Illinois Tax”, and Booklet IL-700-T, Illinois Withholding Tax Tables contain more information.

Publication 130:     http://tax.illinois.gov/Publications/Pubs/Pub-130.pdf

Booklet IL-700-T     http://tax.illinois.gov/taxforms/Withholding/IL-700-T.pdf

Additional contacts

Amanda Webb

Phone Number: 706-542-6935

Responsibilities

Responsible University Senior Administrator: Vice President for Finance & Administration

Responsible University Administrator: Associate Vice President for University Business and Accounting Services

Policy Owner: Payroll

Policy Contact:

Amanda Webb

Phone Number: 706-542-6935

Record Retention

Explanation: This series documents amounts withheld by Payroll from employees' checks for taxing authorities. This series may include but is not limited to: the Statement for Claiming Benefits Provided by Section 911 of the Internal Revenue Code; Withholding Allowance Certificates (W-4s); Earned Income Credit Advance Payment Certificates (W-5s); Non-resident Alien Request for Exemption from Tax Withholding (IRS Form 8233); Alien Information Request Form; and Request for Exemption from State Income Tax Withholding. Individual forms may include employees' names, addresses, social security numbers, and tax identification numbers. Documents must be retained for five (5) years after superseded or employee ends employment.

(Board of Regents: Tax Withholding Authorization Records 0472-04-037)

Record Copy: The Payroll Department will maintain a file of Illinois tax payment information.

Retention: 4 years

Policy Appendices
See Forms/Instructions
Submission of Federal taxes 2.2 and Georgia state withholding taxes 2.4