As a result of recent North Carolina Bill 988, all employers must have their employees provide a new Employee’s Withholding Allowance Certificate before January 1, 2014, either Form NC-4 EZ or Form NC-4. This is a result of the North Carolina General Assembly enacting the Tax Simplification and Reduction Act, which will be effective for taxable years beginning on or after January 1st, 2014. This new law gives taxpayers a lower rate and a higher standard deduction. Taxpayers may no longer claim a personal exemption for themselves, spouses, children, or any other qualifying dependent. In addition many deductions and tax credits will no longer be available in North Carolina for future tax years.
Symmetry Software recently posted the updated North Carolina NC-4 EZ for. The form can be found here. The NC-4 EZ complies with North Carolina's requirements and will address the needs of most employees. Symmetry expects to post the new NC-4 form on the same webpage in the coming weeks. More information about this new law can be found in the notice issued by the North Carolina Department of Revenue.