Setting up your Tax Tables

Please note the following before starting

• IBS does NOT provide professional accounting advice. It is strongly recommended that

Help Option

(Press the HELP key to display this information)

• This screen allows maintenance of the Federal Taxtable File. The following fields can be maintained:
  
  Description of Tax - 30 alphabetic positions
  Exemption Amount (9.2) - 9 numeric positions
  Dependent Amount (9.2) - 9 numeric positions
  
  Maximum Wage Amount (9.2) - 9 numeric positions
  Withholding Tax Amount (9.2) - 9 numeric positions
  % of Excess (6.4) - 6 numeric positions
  
  A maximum of 20 ranges may be entered
• TAXTABLE FILE MAINTENANCE CHANGE
  Tax Type S OR M
  
  Description of Tax OREGON MARRIED INCOME TAX
  Calculation Method 2
  Exemption Amount Dependent Amount 14700
  Standard Deduction Percent
  Standard Deduction Minimum 350000 Standard Deduction Maximum 350000
  Limits Calculation Method L
  
  If the amount of withhold plus % | If the amount of withhold plus %
  wages is over tax of excess | wages is over tax of excess
  01. 272500 70000 | 02. 1606500 93400 90000
  03. 999999999 | 04.
  05. | 06.

  Limits Calculation Method- 1 alphabetic position
  L - Use all three brackets: Wage is over, Withhold tax, and % of excess
  O - Use plus % of excess bracket only.
  
  Maximum Wages (9.2) - 9 numeric-2 decimal positions
  
  Withholding Tax (9.2) - 9 numeric-2 decimal positions
  
  % of Excess (6.4) - 6 numeric-4 decimal positions
  (A maximum of 20 ranges may be entered.)

Example

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Last modified: November 7, 2011

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