Creating the MTA-305 form
- Click on the Payer List button.
- Choose the payer.
- Click on the Payer State Info button.
- Click Add.
- Choose NY from the State drop down menu.
- Enter applicable state information.
- Click Save.
- Click OK.
- Click on the Add Form button.
- Choose New York from the Federal/State/Local drop down menu.
- Choose MTA-305 from the Form Name menu.
- Choose the appropriate quarter.
- Click OK.
- Enter the applicable information.*
Employers must file quarterly MCTMT returns if they are required to withhold New York State income tax from wages paid to employees and their payroll expense for all covered employees exceeds a threshold in any calendar quarter.
Employers who are liable for MCTMT in one quarter must continue to file returns for subsequent quarters even if they don't have a liability for that quarter (unless they have ceased paying wages). If no MCTMT is due they must file a return showing no liability.
Yearli will calculate the appropriate MCTMT due on Line 2 based on the following schedule:
| Payroll Expense (Line 1) |
MCTMT Rate |
|---|---|
| Over $312,500 but not over $375,000 | .11% (.0011) |
| Over $375,000 but not over $437,500 | .23% (.0023) |
| Over $437,500 | .34% (.0034) |
Note: If Line 1 is $312,500 or less, the employer is not subject to the MCTMT for that quarter.
*Paid preparer should enter a New York tax preparer registration identification number (NYTPRIN). If paid preparer is not required to have a NYTPRIN, enter NYTPRIN exclusion code from the list below:
- 01 - Attorney
- 02 - Employee of attorney
- 03 - CPA
- 04 - Employee of CPA
- 05 - Public Accountant
- 06 - Employee of Public Accountant
- 07 - Enrolled Agent
- 08 - Employee of Enrolled Agent
- 09 - Volunteer tax preparer
- 10 - Employee of business preparing that business' return