Puerto Rico has a payroll withholding tax. The PR W2 is completely different from the US W2 so watch out if you’re submitting W2s for PR. For extra info on payroll tax charges and necessities:
Contact the PR Division of Treasury at:
Departamento de Hacienda
P.O. Field 9024140,
San Juan, P.R. 00902-4140
Tel: (787) 721-2020
As of 2009, Puerto Rico’s taxable wage base restrict for unemployment wages is $7,000.00 and for incapacity is $9,000.00. PR HAS a provision for quarterly wages on magnetic media. For extra info on unemployment and incapacity charges and necessities:
Contact the Puerto Rico Division of Labor at:
Departamento del Trabajo y Recursos Humanos
Edificio Prudencio Rivera Martínez
Ave. Muñoz Rivera 505
Hato Rey, PR 00918
If it is advisable to discover a CPA:
Colegio de Contadores Publicos Autorizados de Puerto Rico
There’s a provision for minimal wage in PR, and it varies by trade. There’s a provision for brand spanking new rent reporting in PR. Puerto Rico payroll regulation requires that involuntarily terminated workers should be paid their last pay by subsequent common payday. As well as, the terminated worker might be entitled to compensation primarily based on variety of months and years labored with the corporate. There’s a meal penalty for workers that work greater than 5 hours with out taking a meal break.
There’s an extra time penalty for workers that work greater than 8 hours in a 24 hour interval. Instance, if an worker begins every single day at 9 am, and on one event begins at 8 am, this worker has labored 9 hours in that 24 hour interval that began at 8 am and should be paid extra time. There’s a premium pay for workers engaged on Sundays. As of 2009 that fee is $11.50 per hour.
Sick and Trip pay are obligatory. The fundamental rule is that Sick and Trip time accrue for workers that labored 115 hours or extra in a month. Sick time is accrued at 1 day monthly and Trip time at 1.25 days monthly.
Christmas bonus is obligatory and should be paid earlier than December fifteenth of every yr. The accrual interval begins October 1st and ends November thirtieth. Any worker (even when terminated) that labored 700 hours or extra will obtain a Christmas Bonus. As of 2009 Christmas bonus for corporations with greater than 15 workers is 6% of earnings for the accrual interval as much as a most of $600. For corporations with 15 workers or much less it’s 3% of earnings for the accrual interval as much as a most of $300.