TRAXPayrollAnnouncements Tax & Administrative UpdatesTax Updates: US Tax Table/Rate Corrections (1/1/2019)

Tax Updates: US Tax Table/Rate Corrections (1/1/2019)

  • Removed the Independence, Kentucky Employer OLF, 21-000-494900-ER_OLF-000, from the Engine. Initial feedback from the City stated this was to be calculated based on Employee wages, was determined to not be a withholding tax upon further research.
  • Updated the Annual Contribution Limit for the BenefitType Simple IRA to the 2019 amount of $13,000. The Employer Contribution, based on a percentage of the Compensation limit, remains the same.
  • Corrected the 2019 Annual Tax Limit for New Jersey FLI, 34-000-0000-FLI-000, to $27.52. This had incorrectly been listed as $30.96.
  • Corrected the 2019 Annual Tax Limit for New Jersey Employer SDI, 34-000-0000-SDI-000, to $172.00. This had incorrectly been listed as $16850, the limit for 2018.
  • Added the State Miscellaneous Parameter REDUCED_WH_AMT for Missouri State Income Tax, 29-000-0000-SIT-000, to account for changes in the Missouri Withholding guide and the Employee election that can be made on Line 3 of the Missouri Form MO W-4. This will have the effect of the Engine ignoring the formula and withholding the Missouri State Income Tax as the literal Dollar Amount entered.
  • Corrected the Oregon State Income Tax, 41-000-0000-SIT-000, lowest threshold for the Phase Out for crediting Federal Income Tax withholding for Single filing status. This amount has been incorrectly entered as $3,450 and has been corrected to $3,550.