You’ll need to pay this out of your business bank account you can’t withhold funds from employee paychecks to cover workers’ comp. This protects you from potential lawsuits in the future. Workers’ compensation insurance provides benefits to employees who suffer on-the-job injuries and covers the cost of medical treatment and lost wages. Wyoming requires every employer with one or more employees to carry workers’ compensation insurance. To learn more about FUTA requirements, check out our guide on FUTA and Form 940. 31 of the following year.ĭownload our checklist to make sure you don’t miss any steps. You must provide these forms to employees no later than Jan. Every year, you will need to complete payroll reports, including all W-2 Forms and 1099 Forms. Doing payroll in Wyoming requires more than just paying employees on a regular schedule. Step 10: Complete year-end payroll reports. Regardless of the payment schedule you are on, you only report taxes quarterly on Form 941 or annually on Form 944. Please note that reporting schedules and depositing employment taxes are different.
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