The NC-5Q report provides a quarterly summary of North Carolina state withholding tax information for payroll. It is designed to help employers comply with state tax filing requirements by listing monthly totals for employee withholding and related payroll data.
When to Use It
- Quarterly Tax Filing: To prepare and verify data for the NC-5Q form submission to the North Carolina Department of Revenue.
- Compliance Monitoring: To ensure accurate state tax withholding and reporting.
- Audit Preparation: To provide detailed state tax records for internal or external audits.
- Financial Reconciliation: To reconcile state tax liabilities with payroll and accounting records.
Who Uses the NC-5Q Report, How Often, and Why
