Changes in federal tax withholding rates for wages paid after January 1, 2003 are provided for your information.
INCOME TAX WITHHOLDING PERCENTAGE METHOD
TO FIND TAX:
Subtract $127.08 for each exemption claimed by you from your gross earnings.
Subtract 8% Retirement from gross earnings.
Subtract any Pre-Tax Health, Dental, Life, Medical and Dependent Care deductions.
Subtract any Pre-Tax Parking Deductions
Figure balance from the table below.
EXAMPLE:
Your semimonthly gross wage is $1,500.00. You provide Married and 2 personal allowances on your (Form W-4) withholding certificate.
Semimonthly Gross | $1,500.00 |
| Less Personal Allowances (2 x 127.08) | 254.16 |
| Less 8% Retirement | 120.00 |
| Less Pre-tax Health Insurance deduction | 10.00 |
| Less Pre-tax Life Insurance deduction | .48 |
| Less MCAP deduction | 137.70 |
TAXABLE EARNINGS | $977.66 |
| Tax on $977.66 (Married table) is 50.00 plus 15% of excess over $769 | $81.30 |
TAX WITHHOLDING
SEMIMONTHLY Payroll Period
SINGLE (including head of household)-
If the amount of wages
(after subtracting withholding
allowances and other
deductions) is: The amount of income tax to
withhold is:
Not over $110.
...............................
. $0
| Over.... | ----But not over.... | | ----of excess over.... ---- |
| $110 | $356 | 10% | $110 |
| $356 | $1,254 | $24.60 plus 15% | $356 |
| $1,254 | $2,747 | $159.30 plus 27% | $1,254 |
| $2,747 | $6,050 | $562.41plus 30% | $2,747 |
| $6,050 | 13,069 | $1,553.31 plus 35% | $6,050 |
| $13,069 | - - - | $4,009.96 plus 38.6% | $13,069 |
MARRIED
If the amount of wages
(after subtracting withholding
allowances and other The amount of income tax to
deductions) is: withhold is::
Not over $269 ...........................
. $0
| Over.... | ----But not over.... | | ----of excess over.... ---- |
| $269 | $769 | 10% | $269 |
| $769 | $2,181 | $50.00 plus 15% | $769 |
| $2,181 | $4,658 | $261.80 plus 27% | $2,181 |
| $4,658 | $7,483 | $930.59 plus 30% | $4,658 |
| $7,483 | $13,202 | $1,778.09 plus 35% | $7,483 |
| $13,202 | - - - | $3,779.74 plus 38.6% | $13,202 |
