Ask your accountant or tax attorney for details. In calculating an employee's anticipated income tax liability, an employer must allow for the exemptions, deductions, and credits to which the employee is entitled under North Carolina income tax provisions. If the employee fails to file the exemption certificate, the employer will allow the employee the exemption accorded a single person with no dependents. An employer who fails to withhold the required amount of income taxes or who fails to pay withheld taxes by the due date is subject to a penalty equal to 25 percent of the amount of taxes not withheld or not timely paid. A person who has a duty to deduct, account for, or pay taxes required to be withheld and who fails to do so is liable for the amount not deducted, not accounted for, or not paid.
Withheld taxes are payable quarterly, monthly, or semiweekly, depending upon the amount withheld.
If the Secretary of the Department of Revenue finds that collection of the withheld taxes is in jeopardy, the Secretary may require the employer to file a return or pay withheld taxes at a time other than that specified. The employee's name and Social Security number. The total amount of wages paid to the employee. The total amount deducted and withheld. The employer must provide the NC-2 form on or before January 31 of the succeeding year, or if employment is terminated before the close of the calendar year in which the wages are paid, within 30 days of the final wage payment.