Income Tax Withholding Tables And Instructions For Employers Page 17
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
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69Percentage Method Continued
Example:
An unmarried employee is paid $450 weekly. This
Note: The employee’s excess wage (gross wage less amount
employee has in effect a Form NC-4 claiming single
for allowances claimed) is used with the applicable
with two withholding allowances.
percentage rates and subtraction factors to calculate
the amount of income tax withheld.
Using the percentage method, figure the income tax to
withhold as follows:
Use these steps to figure the income tax to withhold under
the percentage method:
(1) Total wage payment
$ 450.00
(a) Multiply the amount for one withholding allowance
(2) One allowance
$ 48.08
(see chart below) by the number of allowances the
employee claims on his NC-4. Use the amounts for
(3) Allowances claimed on
one allowance in Column 1 if the annual income is
Form NC-4
2
less than the following amounts: $60,000 - single;
$80,000 - head of household; $50,000 - married
(4) Line 2 times line 3
$
96.16
person or qualifying widow(er). Otherwise, use
the amount for one allowance in Column 2.
(5) Amount subject to withholding
(Subtract line 4 from line 1)
$ 353.84
(b) Subtract the amount from the employee’s wages.
(6) Tax to be withheld on $353.84 from
(c) Determine amount to withhold from appropriate
table: Weekly Payroll Period-Single
formula table.
Person
$
18.00
Annualized Wages Method
Withholding Allowance Chart
1. G = Projected Annualized Wages = Wages for the current
payroll period multiplied by the number of similar payroll
periods per year.
Amount for one Allowance
Payroll Period
2. D = Standard Deduction:
Column 1
Column 2
Single
$3,000.00
Head of Household
$4,400.00
Weekly
$48.08
$38.46
Married
$3,000.00
Qualifying Widow(er)
$3,000.00
3. E = Number of Employee’s Withholding Allowances
from Form NC-4 multiplied by $2,500.00 ($2,000.00 if
Biweekly
$96.15
$76.92
the annual income equals or exceeds the following
amounts for the employee’s filing status: $60,000
- single; $80,000 - head of household; $50,000 -
married person or qualifying widow(er)).
Semimonthly
$104.17
$83.33
4. T = Projected Annualized Taxable Wages = Annualized
wages minus the sum of the standard deduction and the
withholding allowances.
Monthly
$208.33
$166.67
(T = G-D-E)
5. Determine the annualized tax from the appropriate table
on page 18. You may use Table A or Table B.
Daily
$9.62
$7.69
6. Divide the annualized tax by the number of payroll
periods per year to obtain the amount to withhold this
pay period.
Page 17
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form Nc-30 - Income Tax Withholding Tables And Instructions For Employers - North Carolina - 2017
Financial
Form Nc-br - Business Registration Application For Income Tax Withholding, Sales And Use Tax, And Machinery And Equipment Tax
Life
Form De 1p - Employers Depositing Only Personal Income Tax Withholding Registration And Update Form - 2016
Legal
Related Categories
Parent category: Financial