PR Tax Codes window: Tax Table tab
Use the options on this tab to set up tax percentages and cutoffs.
When the tax type is set to Federal, these fields are labeled as follows: Withholding, Employee SSI, Employee Medicare, Employer SSI, Employer Medicare, Employer Unemployment.
When the tax type is set to State or Local, the field labels change depending on the state you choose. These fields are for state-specific taxes; please check with your state for information about the requirements.
If this state or local Tax Code is based on hours worked rather than a percentage of pay, enter the tax amount in the Per Hour fields at the bottom of the window.
AP Vendor / Liability Account
Depending on if you integrated to General Ledger or Accounts Payable, enter the vendor or liability account associated with the tax type. If you are integrated to Accounts Payable, this label displays AP Vendor. If you’re not integrated to Accounts Payable, this label displays Liability Account.
(Fund product only) The liability account does not show the fund segment; the fund comes from the expense account associated with the Program Code.
Percent
Enter the tax rate for the associated tax type.
Cutoff
Enter the cutoff amount for the corresponding tax type. Anything above this amount is exempt.
Additional Medicare Tax / Threshold Amount
For Federal Tax tables, if there have been updates from the IRS for Additional Medicare Tax withholdings, enter the applicable information in these fields. These fields are automatically updated with any changes introduced with PR Tax Updates.
Published date: 12/20/2021