[Mveca_usps] Updates for 2016 tax table and SURCHG

[Debra Dinnen]

Hello!

The following changes have been made to the payroll programs for 2016:

*         TAX TABLES: The tax tables for 2016 have been updated

o   The tax tables have been updated for 2016.  The following have been updated:

?  The Federal tax tables (using the Percentage Method) by pay period for bi-weekly, semi-monthly, monthly and annually. The Federal withholding amount may be slightly lower for 2016, than it was in 2015.

?  The Federal Withholding Allowances (FWA) for bi-weekly is now $155.80, the semi-month is now $168.80 and the month is now $337.50.  (2015 allowances are:  bi-weekly - $153.80, Semi-monthly - $166.70 and Monthly - $333.30)

?  There are no changes for the Social Security and Medicare taxes.

?  The Ohio state tax did not have any new changes at this time, since it was just changed on August 1, 2015.

*         USPRPT/SURCHG:  SERS minimum salary for surcharge has been updated

o   SERS has changed the SERS minimum salary requirement to $23,000.00 for the fiscal year 2016.  This amount is looked at for the USPRPT/SURCHG report.  The tax table constant for SERS has been updated to reflect the amount of $23,000.00 for the school year 2015-2016.


Let me know if you have any questions.

Deb Dinnen
937-767-1468 x 3113

[mveca Christmas 4]

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