Maryland Employer Withholding Guide - 2012 Page 27
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36Percentage method of withholding for
3.00 PERCENT LOCAL INCOME TAX
Amount
15% allowance for
FORMULA
Payroll
of one
Standard Deduction*
Total wages (before any deductions)
period
exemption
MIN
MAX
LESS
Allowance for Standard Deduction (15% of wages
Weekly
$
61.54
$
29.00
$
38.55
for payroll period with a minimum and maximum as
Bi-weekly
$ 123.08
$
58.05
$
77.00
set forth for the particular payroll period)
Semi-monthly
$ 133.33
$
62.50
$
83.50
LESS
Value of exemptions (number of
Monthly
$ 266.67
$ 125.00
$ 167.00
exemptions times the allowable amount for one
Quarterly
$ 800.00
$ 375.00
$ 500.00
exemption as shown for the
Annually
$3,200.00
$1,500.00
$2,000.00
applicable payroll period)
Daily
$
8.77
$
4.15
$
5.50
*The standard Deduction is 15% of the gross income with a
Equals TAXABLE INCOME
minimum of $1,500 and a maximum of $2,000.
Note: The number of exemptions to be used in this formula
is determined from the Form MW507 (Maryland Employee
Exemption Certificate) filed by your employee. Form MW507
is available on our Web site at
(a) Married Filing Joint or Head of Household
(b) Single including Married Filing Separately or Dependent
Withholding - Quarterly payroll period
Withholding - Quarterly payroll period
DO NOT WITHHOLD ON GROSS WAGES LESS THAN $1,250.00
DO NOT WITHHOLD ON GROSS WAGES LESS THAN $1,250.00
IF THE taxable income is
The amount to be
IF THE taxable income is
The amount to be
Over
But not over
withheld shall be
of excess over
Over
But not over
withheld shall be
of excess over
$
0
$ 50,000.00
7.75%
$
0
$ 37,500.00
7.75%
50,000.00
87,500.00
$3,875.00 plus 8.00%
$ 50,000.00
37,500.00
75,000.00 $ 2,906.25 plus 8.00%
$ 37,500.00
87,500.00
125,000.00
6,875.00 plus 8.25%
87,500.00
75,000.00
125,000.00
5,906.25 plus 8.25%
75,000.00
125,000.00
9,968.75 plus 8.50%
125,000.00
125,000.00
10,031.25 plus 8.50%
125,000.00
Withholding - Daily payroll period
Withholding - Daily payroll period
DO NOT WITHHOLD ON GROSS WAGES LESS THAN $13.70
DO NOT WITHHOLD ON GROSS WAGES LESS THAN $13.70
IF THE taxable income is
The amount to be
IF THE taxable income is
The amount to be
Over
But not over
withheld shall be
of excess over
Over
But not over
withheld shall be
of excess over
$
0
$ 548.00
7.75%
$
0
$ 411.00
7.75%
548.00
959.00
$ 42.75 plus 8.00%
$ 548.00
411.00
822.00
$ 31.85 plus 8.00%
$ 411.00
959.00
1,370.00
75.34 plus 8.25%
959.00
822.00
1,370.00
64.73 plus 8.25%
822.00
1,370.00
109.25 plus 8.50%
1,370.00
1,370.00
109.93 plus 8.50%
1,370.00
Withholding - Annual payroll period
Withholding - Annual payroll period
DO NOT WITHHOLD ON GROSS WAGES LESS THAN $5,000.00
DO NOT WITHHOLD ON GROSS WAGES LESS THAN $5,000.00
IF THE taxable income is
The amount to be
IF THE taxable income is
The amount to be
Over
But not over
withheld shall be
of excess over
Over
But not over
withheld shall be
of excess over
$
0
$200,000.00
7.75%
$
0
$150,000.00
7.75%
200,000.00
350,000.00 $15,500.00 plus 8.00%
$200,000.00
150,000.00
300,000.00 $11,625.00 plus 8.00%
$150,000.00
350,000.00
500,000.00
27,500.00 plus 8.25%
350,000.00
300,000.00
500,000.00
23,625.00 plus 8.25%
300,000.00
500,000.00
39,875.00 plus 8.50%
500,000.00
500,000.00
40,125.00 plus 8.50%
500,000.00
Lump Sum Distribution of Annual Bonus
The amount to be withheld shall be
8.50%
27
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial