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Informational Circular 05-P-014
Attachment
December 10, 2004
TABLES FOR PERCENTAGE METHOD OF WITHHOLDING
ALL PAY PERIODS
SINGLE PERSON INCLUDING HEAD OF HOUSEHOLD
DETERMINING FEDERAL TAX TO BE WITHHELD
To determine the amount of federal withholding tax, first multiply the taxable
gross wages by the number of pay periods in a year to get the annual wage.
Subtract the value of exemptions allowed (determined by multiplying $3,200.00
times the number of exemptions claimed) from the annual wage. Then determine
federal withholding tax on the balance of annual gross wages, after deducting
value of exemptions, by applying tax table below to remainder of the annual
taxable gross wages. The amount of tax is then divided by the number of pay
periods to arrive at the amount of federal withholding tax to be deducted
per pay period.
|
|
|
|
|
|
| $
0.00 |
|
$ 2,650.00 |
|
$
.00 |
|
|
| $ 2,650.00 |
|
$
9,800.00 |
|
$
.00 |
PLUS 10 % |
$ 2,650.00 |
| $ 9,800.00 |
|
$ 31,500.00 |
|
$ 715.00 |
PLUS 1% |
$ 9,800.00 |
| $ 31,500.00 |
|
$ 69,750.00 |
|
$ 3,970.00 |
PLUS 25 % |
$ 31,500.00 |
| $ 69,750.00 |
|
$151,950.00 |
|
$13,532.50 |
PLUS 28 % |
$ 69,750.00 |
| $151,950.00 |
|
$328,250.00 |
|
$36,548.50 |
PLUS 33 % |
$151,950.00 |
| $328,250.00 |
|
|
|
$94,727.50 |
PLUS 35 % |
$328,250.00 |
ALL PAY PERIODS
MARRIED PERSON
DETERMINING FEDERAL TAX TO BE WITHHELD
To determine the amount of federal withholding tax, first multiply the taxable
gross wages by the number of pay periods in a year to get the annual wage.
Subtract the value of exemptions allowed (determined by multiplying $3,200.00
times the number of exemptions claimed) from the annual wage. Then determine
federal withholding tax on the balance of annual gross wages, after deducting
value of exemptions, by applying tax table below to remainder of the annual
taxable gross wages. The amount of tax is then divided by the number of pay
periods to arrive at the amount of federal withholding tax to be deducted
per pay period.
| WAGES LESS EXEMPTIONS: |
|
INCOME TAX TO BE WITHHELD: |
| OVER |
BUT NOT OVER |
|
|
OF EXCESS OVER |
|
|
|
| $
0.00 |
|
$
8,000.00 |
|
$
.00 |
|
|
| $ 8,000.00 |
|
$ 22,600.00 |
|
$ .00 |
PLUS 10 % |
$
8,000.00 |
| $ 22,600.00 |
|
$ 66,200.00 |
|
$ 1,460.00 |
PLUS 1% |
$ 22,600.00 |
| $ 66,200.00 |
|
$120,750.00 |
|
$ 8,000.00 |
PLUS 25 % |
$ 66,200.00 |
| $120,750.00 |
|
$189,600.00 |
|
$21,637.50 |
PLUS 28 % |
$120,750.00 |
| $189,600.00 |
|
$333,250.00 |
|
$40,915.50 |
PLUS 33 % |
$189,600.00 |
| $333,250.00 |
|
|
|
$88,320.00 |
PLUS 35 % |
$333,250.00 |
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