The Ledger : taxes

Payroll Post Notes: Louisiana Tax Change

Jennifer Maroney — Tue, 30 Jun 2009 18:18:00 GMT

Beginning July 1, 2009, the tax calculation method for employees working in Louisiana will change. This tax change has been implemented in Payroll version 7.78, patch 9.

If you have employees subject to Louisiana state tax, complete your June payroll and then follow these steps before calculating payroll for July:

Download and install version 7.78 and patch 9.
Create a new state tax for Louisiana with an effective date of 07/01/09:
1. In Configuration, Taxes, select State taxes from the drop-down list and click New Tax.
2. In the Add new state tax setting for drop-down list, select Louisiana and click OK.
3. Change the effective date to 07/01/09.
4. Select State, Restore Defaults from the menu bar.
5. Select 2009 from the Restore the drop-down list and click OK.
6. Enter the remaining required information for each tax.
7. Click GL Distribution to enter withholding, liability, and expense accounts distributions.
8. Click Save and Close.
Change the withholding status of all employees with Zero withholding to either Single or Married withholding:
1. Create a query of records with a Withholding status of Zero.
2. On the Results tab, open the first record.
3. Change the Withholding status and click the single right arrow on the action bar to move to the next record.
Note: Although Louisiana no longer offers a Zero withholding status, we have left the status available so you can easily identify employees that need to be updated.

For more information about the Louisiana tax changes, refer to the Louisiana Department of Revenue website.

Payroll Post Notes: Tax Updates for the American Recovery and Reinvestment Act

Jennifer Maroney — Wed, 25 Feb 2009 13:40:00 GMT

I'm sure most of you, if not all of you, are aware of the American Recovery and Reinvestment Act, a part of the new Stimulus Package. The IRS has released the new tax tables to reflect the tax provisions of the act. Organizations are required to make these tax changes by April 1, 2009. To make the tax table changes to comply with the act, you must manually update your current federal tax tables.

Here's how:

In Configuration, click Taxes.
Select Federal from the Tax Type drop-down menu.
Open the tax table.
Make the appropriate changes based on the updated IRS tax tables.
Click Save and Close.

Talk to you soon!

Payroll Post Notes: New Jersey Family and Leave Insurance Tax Implemented

Jennifer Maroney — Thu, 08 Jan 2009 14:29:00 GMT

If you have employees who live in New Jersey you MUST read this post. New Jersey introduced a new tax called Family and Leave Insurance (FLI) effective January 1. This tax has been implemented in version 7.77, patch 7, which is available for download.

If you have employees who are New Jersey residents, you must follow these steps before calculating 2009 payroll:

Delete the existing 2009 New Jersey tax table if it is already created.
Download and install version 7.77 and patch 7.
Create a new state tax for New Jersey with an effective date of 01/01/09.

When calculating payroll, all compensation types subject to New Jersey SUTA will also be subject to FLI. If SUTA is withheld for a New Jersey employee, FLI will also be withheld.

We are currently working on implementing FLI on reports and tax forms. We will notify you in Alerts and Blogs when the reports and forms have been updated. This information can also be found in Knowledgebase solution BB561260 and this letter (PDF) emailed to Financial Edge contacts at organizations with Payroll.