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Tax Table Information

 

         

 

 

Overview


Modify Tax Table Information allows you to edit tax table distributions.

 

This Help page contains the following sections:

Filters

Tax Table Information Grid

Tax Table Update

 

 

Filters


Select the Tax Types you want to view and select to View All Tax Tables, View Ones with Distributions, or View Ones with Distributions (Not Assigned to Employees). Click the Search button to view results or the Clear Filters link to reset all filters.

 

 

Tax Table Information Grid


The Tax Table Information grid contains the following columns for each tax table:

 

State

Type

Tax Table Name

Distribution: This column contains a check if the tax table has distributions.

Account Structure

Account

Bonus Pay Percent

 

Note: Within the grid you can click the Delete  icon by a tax table to be prompted to delete the distribution associated with that tax table. Only distributions that have not been used can be deleted.

 

 

Tax Table Update


Click the Edit  icon or double-click any tax table in the grid to expand and edit the distribution record. Specify the levels and Account # for interfacing with General Ledger. You can also enter the Bonus Pay Percent. This is the tax percent to be withheld from the employee when using the #Pay/Year of 1 for Bonus Pay.

 

Click the Update button to save your changes and collapse the tax table entry or the Cancel link to collapse the tax table entry without saving.

 

Click Add New Tax Table to begin entering a new county or local tax table. Enter the Name of the table and select the Type (County or Local) and State.  Enter a County Code (This code appears in position 306-307 of the RS line when creating an electronic W2). Enter the level information, the Account #, and the Bonus Pay Percent. This is the tax percent to be withheld when using the # Pay/Year of 1 for Bonus Pay.

 

Select if you want to Round to Whole Dollars or Deduct Federal Tax. You can then enter in the Calculation Values. If you are not sure of the amounts that belong in these fields we recommend you contact a tax professional.

 

 

In the Rates area you can specify up to 40 rate levels. The way that these work is that amounts starting with the amount in the left column are taxed at the percentage in the right column.

 

Tax Rates

 

For our example the following rates are set up:

 

 

The first ten thousand that you make is taxed at one percent, anything from ten thousand to twenty-five thousand is taxed at two percent and any amount over twenty-five thousand is taxed at four percent.

 

Example: If you make fifty thousand dollars then the first ten is taxed at one percent, the next fifteen thousand is taxed at two percent, and the remaining twenty-five thousand is taxed at four percent. 

 

Click the OK button to save changes to your county/local tax table and return to the previous page or the Close link to return to the previous page without saving changes.

 

 

Compiled on 10/16/2018 10:23:13 AM