This form is a sample letter in Word format covering the subject matter of the title of the form.
Template For Bonus Ball In Arizona
Category:
State:
Multi-State
Control #:
US-0002LR
Format:
Word;
Rich Text
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FAQ
Corporate: Arizona does not conform to the federal treatment of bonus depreciation and requires an addition modification for any bonus depreciation taken, but then allows a corresponding deduction, which is computed as if the taxpayer had not elected bonus depreciation.
The federal bonus tax withholding rate is typically 22%. However, employers could instead combine a bonus with your regular wages as though it's one of your usual paychecks—with your usual tax amount withheld. There are ways to reduce the tax impact of your bonus.
Your total bonuses for the year get taxed at a 22% flat rate if they're under $1 million. If your total bonuses are higher than $1 million, the first $1 million gets taxed at 22%, and every dollar over that gets taxed at 37%. Your employer must use the percentage method if the bonus is over $1 million.
