2022 IRS 940 Texas Collin: What You Should Know
A) (1) <> For the purposes of this section:
(i) <> In this section, the term ``employer'' means a person engaged in commerce or in an activity affecting commerce
whose principal place of business is located in any State and who has a place of business, or
has regular and substantial contracts, with individuals, institutions, or instrumentalities of State or local governments or other groups, organizations, or
communities for such purpose; and (ii) <> For the purposes of this section, the term ``employer'' means a person with an annual revenue in any State or local jurisdiction in excess of 10,000 and with employees located in any State or local jurisdiction, and with a population in excess of 10,000,000.
(b) If the tax imposed under section 6001 by any State is greater than the tax imposed under this part by any other State, such tax shall, for purposes of this part, be treated as if it were a tax imposed under section 6001 (including any amount on which the additional tax imposed under section 6001 by such other State may be deducted against any tax imposed under this part) in the same total amount as such tax imposed under section 6001.
(c)(1) For purposes of this subsection:
(A) The term ``State'' means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, and Guam.
(B) The term ``State employment tax,'' to the extent defined and used in subparagraph (A), means a tax imposed under the laws of a State, on the employees of a person with respect to compensation paid or incurred in such State, the amount of which would be the sum, if the tax imposed under State law were the same as the tax imposed under this part, of--
(i) the amount (if any) determined under section 6001(c)(b) to not exceed the tax imposed under section 6001 by an employer in the State (determined without regard to the application of clause (ii) thereof)); and
(ii) the sum, if any, of the amounts (if any) determined under subparagraphs (A) and (B) to not exceed 75 percent of the amount of such tax.
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