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Last modified on 9/13/2015 9:13 PM by User.

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Tax Table Maintenance - Task 23

 

The Tax Tables for Federal, State & City taxes must be setup prior to beginning payroll.  Each governmental taxing unit will provide the tax tables prior to the beginning of each year.  The codes must be entered manually when first beginning to use Profits Plus or when a new code is required.  The codes must also be updated manually on a yearly basis - i.e. the Federal government provides the information for the new rates in Circular E.

 

Below is the information that is in Task 23 - Tax Table Maintenance.

 

*01. Tax code:        USBIMR                    05. Std % allow: 0.00

 02. Exempt $ amt:  140.38                        06. Basis:

 03. Std $ allow:     0.00                            07. Minimum $:   0.00

 04. Fed $ exempt:                                     08. Maximum $:   0.00

 

          BREAK POINT            TAX                 RATE

          -----------                     --------                 -----

   09.    14642.00                     3,880.39          35.00

   10.    8331.00                       1,797.76          33.00

   11.    5569.00                       1,024.40          28.00

   12.    2910.00                       359.65             25.00

   13.    921.00                         61.30               15.00

   14.    308                              0.00                 10.00

   15.    0.00                             0.00                   0.00

   16.    0.00                             0.00                   0.00

   17.    0.00                             0.00                   0.00

   18.    0.00                             0.00                   0.00

 

 

In order for the Profits Plus to recognize the "codes", they must be setup in an exact sequence.

 

 Field #01. Tax code:        USBIMR - the first two characters

With the exception of Federal tax, the first two characters must coincide with the codes that are setup in:

·        Payroll (Module 1)

o       System Management Functions (Task 32)

§         Modify Application Tables (Sub-task 17)

·        State Codes (Option 3) and City/County Codes (Option 4)

For Federal Tax rates use US in the first two spaces (like the example code).  As a further example, the state of Michigan would have MI setup in Option 3 (State Codes in the Modify Application Tables) and therefore the Michigan tax in the Tax Table would begin with MI

 

 

Field #01. Tax code:        USBIMR -  the second set of two characters

The middle two characters refer to the pay sequence of the employees. Use the following:

  • WK -   weekly
  • BI    -   bi-weekly (example: every other Friday)
  • SM  -   semi-monthly (example: paid on the 15th and end-of-month)
  • MO -   monthly

 

 

Field #01. Tax code:        USBIMR - the last two characters

The last two characters refer to the marital status of the employees.  Use the following:

  • MR  -   married
  • SL   -   single

 

 

Field #2 Exempt $ amt.  The information entered in field 2 comes from the government tax agency.

 

Fields 3 - 8  If the state, city or county taxing agency provides the information, fill it in. These fields are rarely used.

 

Fields 9 - 20.  The breakpoints, tax and rate.  This information is provided by the federal, state, city or county government tax agency.