[Mail_treas] 2018 Tax Tables installed and change to SERS Surcharge amount

[Debra Dinnen]

  Hello!

  *    TAX TABLES: The tax tables for 2018 have been updated with the following changes:
     *    The Federal tax tables (using the Percentage Method) by pay period for bi-weekly, semi-monthly, monthly and annually. The Federal withholding amount will be lower for 2018, than it was in 2017.
     *   The Federal Withholding Allowances (FWA) for bi-weekly is now $159.60, the semi-monthly is now $172.90 and the monthly is now $345.80.
     *   The Social Security wage base limit is now $128,400.
     *   The withholding on Supplemental Wages has been changed to a flat 22%.
     *   There are no changes for Ohio, Medicare or OSDI tax for 2018.
     *   Important note-- If a district has run CALCPAY or CHKPRT and have not run CHKUPD before this update, we ask that the district re-run CALCPAY and CHKPRT so they have the correct tax amounts for 2018 and the report amounts are correct.  If a district has run through CHKUPD before this update, then they are okay to proceed as normal and the 2018 tax updates will be on their next payroll.
  *   USPRPT/SURCHG:  SERS minimum salary for surcharge has been updated
     *   SERS has changed the SERS minimum salary requirement to $23,700.00 for the fiscal year 2018.  This amount is looked at for the USPRPT/SURCHG report.  The tax table constant for SERS has been updated to reflect the amount of $23,700.00 for the school year 2017-2018.
  *   We are currently working on updating USPS-R for the new federal withholding changes and anticipate releasing a new version of USPS-R containing these updates before the end of the day.
Stay safe and warm!
Deb

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