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These changes should be made to your system after payroll has been ended into January, but prior to processing any payroll for the new year.
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FUTA and Medicare requirements have remained the same. |
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The social security rate did not change, but the gross limit has been extended to $76,200 which raises the personal maximum deduction to $4724.40. The gross limit needs to be updated in the Federal Information file, whereas the personal maximum needs to be put in to the social security record of your Deduction file. |
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On the income tax side, your annual allowance per exemption has been raised to $2800. This needs to be entered into your table deduction for federal withholding. Also its table deduction rows should be edited to match the following: |
| M/S | ROW | BASE WAGES | STD AMOUNT | % EXCESS |
| M | 01 | 0 | 0.00 | 0.00 |
| M | 02 | 6450 | 0.00 | 15.00 |
| M | 03 | 48400 | 6292.50 | 28.00 |
| M | 04 | 101000 | 21020.50 | 31.00 |
| M | 05 | 166000 | 41170.50 | 36.00 |
| M | 06 | 292900 | 86854.50 | 39.60 |
| S | 01 | 0 | 0.00 | 0.00 |
| S | 02 | 2650 | 0.00 | 15.00 |
| S | 03 | 27850 | 3780.00 | 28.00 |
| S | 04 | 59900 | 12754.00 | 31.00 |
| S | 05 | 134200 | 35787.00 | 36.00 |
| S | 06 | 289950 | 91857.00 | 39.60 |