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New withholding tables for WI to be used no later than Oct 1,2009. New upper level tax bracket (200K+) and increases across the board. Based on Method B http://www.dor.state.wi.us/pubs/pb166h.pdf Oct012009_tax_WI.sql is available now for updating.
Withholding. will increases by 10%, effective for wages paid after October 31, 2009. Similarly, withholding on supplemental wages increase from 6% to 6.6% effective for supplemental wages paid after October 31, 2009. New tax tables will be available once the official tables are released… More info on this increase CA.gov EDD page This is the […]
Released: June 11, 2009 A new tax law raises California’s personal income tax rates by .25 percent. The law also reduces the dependent exemption credit to the same amount of the personal exemption credit—a $210 difference per dependent using 2008 amounts. Some taxpayers may need to increase their wage withholding now to avoid owing taxes […]
All three states require all payroll professionals to implement the new tax tables no later than May 1st. Failure to do so will result in under withholding for your employees. As of April 20th , these tax tables are available to all Paymaster customers through the Apply SQL Patch menu itm in the program. The […]
Since Arizona withholding is based on the federal rates, the state would have seen declining revenue as a result of the ‘Making Work Pay’ federal tax tables. Therefore Arizona has released new tax tables for the rest of 2009 and 2010 to make up the difference. 10%, will increase to 11.5% from May 1, 2009 […]
On Feb 21 2009, the IRS has released new tax tables that implement the ‘Making Work Pay’ stimulus package. Available for tax years 2009 and 2010, the credit is 6.2 percent of a taxpayer’s earned income with a maximum credit of $800 for a married couple filing a joint return and $400 for other taxpayers, […]
CNNMoney – President tells U.S. Treasury to implement cuts for 95% of Americans; by April 1, workers will see less taxes withheld from paychecks. The tax cuts are part of a $787 billion economic recovery plan passed by the Democratic-controlled Congress over Republican opposition. The aim is to put more money in the pockets of […]
On Feb 16, 2009, employers are required to withhold Federal Income Tax from employee who claimed ‘Exempt’ status in 2008 but have yet to complete a new W4 for 2009. Until a new W4 is provided the employer should withhold as single filing status with zero withholding allowances. Note. You cannot claim exemption from […]
Recommendations for Successful Delivery of an Economic Stimulus Via Workers Paychecks PDF of APA’s Letter The American Payroll Association is recommending that to get this credit in the hands of American workers quickly and effectively, they recommend modifying the current income tax and withholding tables. The current proposal involves a refundable income tax credit equal […]
As of Jan 5, 2009 , the following states all have updated tax tables. California,Colorado,Connecticut,District of Columbia,Kentucky,Maine,Michigan,Minnesota,Missouri,New Mexico,North Dakota,Ohio,Oklahoma,Rhode Island,Vermont. Note: OH and MO were NOT included in the 2009 tax table update due to late releases and must be downloaded separately. If you do payroll in these two states be sure to apply the […]