Manage State Tax Information

Use this screen to configure state tax information for your company's taxable entities.

Note: For Costpoint Cloud, you can choose to opt in to this feature for the Costpoint 8.2.15 release. The ability to opt in is temporary and will be removed when the feature becomes automatically enabled for all users as part of a future Costpoint release. See the Manage Opt-In Features topic for more information.

Once you set up a state code for a taxable entity, you can include state tax amounts on 1099-MISC and 1099-NEC printed forms and magnetic media. If the state assigned to a taxable entity is a participant of the Combined Federal/State Filing (CF/SF) program, you can submit the generated 1099 magnetic media bearing state amounts to the IRS.

The CF/SF program simplifies the filing process by allowing the IRS to forward your electronically filed information returns to participating states, eliminating the need for separate state reporting.

For more information, refer to IRS Publication 1220 (for tax year 2024)