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CFO Tips & Techniques
What Should My Payroll Federal Tax Table
Look Like for 2000?
Caution: Before applying the
following 2000
payroll tax changes, you MUST
create and
verify the Master Tax File for
your 1999
W-2s.
In the CFO Payroll module, select Change/Edit, Federal Tax Information. Make Screens 1 and 2 match the ones shown
below:
| Federal Tax Information |
Screen 1 of 2 |
|
|
Rate |
Cutoff |
|
|
| Federal Unemployment Tax: |
6.20% |
7000 |
|
|
| Employer's Share of FICA |
6.20% |
76200 |
Social Security |
|
|
1.45% |
9999999.99 |
Medicare |
|
| Employee's Share of FICA |
6.20% |
76200 |
Social Security |
|
|
1.45% |
9999999.99 |
Medicare |
|
| Federal 401(k): |
|
10500 |
|
|
|
Single |
Married |
|
|
| Annual Exemption: |
2800 |
2800 |
|
|
|
|
|
|
|
| State Credit Against Federal Unemployment Rate: 5.40 % |
| Federal Tax Information |
Screen 2 of 2 |
| Level 1 |
0.00% |
0 |
0.00% |
0 |
| Level 2 |
0.00% |
0 |
0.00% |
0 |
| Level 3 |
15.00% |
2650 |
15.00% |
6450 |
| Level 4 |
28.00% |
27850 |
28.00% |
48400 |
| Level 5 |
31.00% |
59900 |
31.00% |
101000 |
| Level 6 |
36.00% |
134200 |
36.00% |
166000 |
| Level 7 |
39.60% |
289950 |
39.60% |
292900 |
|
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|
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| All rates and cutoffs are from IRS Circular E, Table 7 (Annual) |
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