This page (revision-16) was last changed on 26-Nov-2021 10:22 by kparrott

This page was created on 26-Nov-2021 10:22 by JEscott

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Version Date Modified Size Author Changes ... Change note
16 26-Nov-2021 10:22 12 KB kparrott to previous
15 26-Nov-2021 10:22 12 KB rforbes to previous | to last
14 26-Nov-2021 10:22 12 KB rforbes to previous | to last
13 26-Nov-2021 10:22 12 KB rforbes to previous | to last
12 26-Nov-2021 10:22 12 KB rforbes to previous | to last
11 26-Nov-2021 10:22 12 KB rforbes to previous | to last
10 26-Nov-2021 10:22 12 KB rforbes to previous | to last
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8 26-Nov-2021 10:22 12 KB rforbes to previous | to last
7 26-Nov-2021 10:22 12 KB rforbes to previous | to last VERTEX ==> Vertex.VERTEX
6 26-Nov-2021 10:22 12 KB JEscott to previous | to last
5 26-Nov-2021 10:22 11 KB JEscott to previous | to last
4 26-Nov-2021 10:22 11 KB JEscott to previous | to last
3 26-Nov-2021 10:22 11 KB JEscott to previous | to last
2 26-Nov-2021 10:22 11 KB JEscott to previous | to last
1 26-Nov-2021 10:22 7 KB JEscott to last

Page References

Incoming links Outgoing links
U.S. TAXATION
U.S. TAXATION

Version management

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At line 10 changed one line
Default tax calculation methods are found on the pay rule ([IPRLU]) form for each employee.
Default tax calculation methods are found on the pay rule ([IPRLUS]) form for each employee.
At line 62 changed one line
In [{$applicationname}] , each time sheet (pay header) contains the tax jurisdiction to be used for taxation purposes. Taxes are calculated according to the Pay Header's Work and Home Jurisdiction. One time sheet cannot be paid with multiple tax jurisdictions.
In Personality , each time sheet (pay header) contains the tax jurisdiction to be used for taxation purposes. Taxes are calculated according to the Pay Header's Work and Home Jurisdiction. One time sheet cannot be paid with multiple tax jurisdictions.
At line 74 changed one line
;IPRLU - Federal Tax Method
;IPRLUS - Federal Tax Method
At line 80 changed one line
;IPRLU - State Tax Method
;IPRLUS - State Tax Method
At line 86 changed one line
;IPRLU - Local Tax Method
;IPRLUS - Local Tax Method
At line 103 changed 3 lines
;:At federal level, if PTD method is used, the 125 plan and 401K amounts are passed to Vertex as PTD amount, therefore FICA/MEDI/FUTA will automatically be calculated using the PTD method.
;:At State level, if PTD method is used, the 125 plan and 401K amounts are passed to Vertex as PTD amount, therefore SUI/SDI will automatically be calculated using the PTD method.
;:At Local level, if PTD method is used, the 125 plan and 401K amounts are passed to Vertex as PTD amount, therefore School district tax will automatically be calculated using the PTD method.
;:At federal level, if PTD method is used, the 125 plan and 401K amounts are passed as PTD amount, therefore FICA/MEDI/FUTA will automatically be calculated using the PTD method.
;:At State level, if PTD method is used, the 125 plan and 401K amounts are passed as PTD amount, therefore SUI/SDI will automatically be calculated using the PTD method.
;:At Local level, if PTD method is used, the 125 plan and 401K amounts are passed as PTD amount, therefore School district tax will automatically be calculated using the PTD method.
At line 108 changed 2 lines
*add PTD values to CTD values, these become the new CTD values to call Vertex
*subtract PTD values from YTD values, because PTD are included in CTD, no need to be included in YTD for Vertex
*add PTD values to CTD values, these become the new CTD values to call the tax engine
*subtract PTD values from YTD values, because PTD are included in CTD, no need to be included in YTD
At line 112 changed 2 lines
*call Vertex to calculate tax amounts for the newly adjusted CTD amount for the entire period
*Vertex returns all tax amounts for the entire period
*call the tax engine to calculate tax amounts for the newly adjusted CTD amount for the entire period
*The tax engine returns all tax amounts for the entire period
At line 120 changed one line
;IPRLU - EIC Tax Method
;IPRLUS - EIC Tax Method
At line 128 changed 3 lines
;Vertex Cumulative Tax Calculation
;:Vertex supports the cumulative tax calculation at Federal level. For State and Local level, the user should use 'PTD' method.
;:Vertex Cumulative Averaging method accumulates past + current gross and then averages it according to the number of periods so far in current year. If an employee has not been paid at beginning of year or the employee is not paid consecutively, the estimated annual income based on past income will be low. For new hired in middle of year, this method will not project the income accurately.
;Cumulative Tax Calculation
;:The tax engine supports the cumulative tax calculation at Federal level. For State and Local level, the user should use 'PTD' method.
;:The tax engineCumulative Averaging method accumulates past + current gross and then averages it according to the number of periods so far in current year. If an employee has not been paid at beginning of year or the employee is not paid consecutively, the estimated annual income based on past income will be low. For new hired in middle of year, this method will not project the income accurately.
This page (revision-16) was last changed on 26-Nov-2021 10:22 by kparrottTop