Home > Other Federal Tax Information
Other Federal Tax Information
Use the Other Federal Tax Information Maintenance to maintain the FICA and Medicare FICA rates and limits. You must maintain these tables for Medicare-Only FICA employees, as specified by the Employee FICA Code. This applies to facilities with Regular FICA-exempt employees, such as municipalities who participate in the Maine State Retirement System (MSRS).
Tip: Normally, you must update the tax information with applicable rate changes once each year - after generating W-2s and before running the first payroll of the calendar year.
Directions:
To open:
1. Click Payroll from the Menu.
2. Click Miscellaneous File Maintenance.
3. Click Table FM.
4. Click Numeric Tables.
5. Click Other
Federal Information.
Tip: Or, use the keyboard
shortcut: [ALT] [p] [m] [n]
[m].
Other Federal Information Example:
Note: The information in the following table is only an example. Actual tax withholding information is published annually.
Other Federal Tax Information Prompts
|
|
Calendar Year |
Enter the calendar year for the tax information. |
FICA TAX |
|
Enter the FICA rate, which is the percentage of gross earning withheld for FICA taxes. |
|
Enter the FICA Income Limit, which is the gross earnings cutoff point for FICA taxes. |
|
FICA TAX - (MEDICARE-ONLY)
|
|
Enter the Medicare FICA Rate, which is the percentage of gross earnings withheld for Medicare FICA taxes. (6.2 numeric) |
|
Displays the Medicare FICA Income Limit, which is the gross earnings cutoff point for Medicare FICA taxes. Currently the limit is 999999.00, which indicates it is unlimited. (6.2 numeric) |
|
Enter the Federal Dependent Allowance. (6.2 numeric) |
|
To update the changed information, click Save or press [ENTER]. Keyboard shortcut: [ALT + s] |
|
To avoid losing data, you must save the changed record. |
|
Editing the Table |
1. Position the pointer to the information that you want to change. 2. Enter the data changes. 3. To complete the edit
process, click Save
|