This is a separate window that is displayed when you select the Table button on the User-Maintained Payroll Formulas window. It has 12 rows of 3 columns and is set up to work similarly to many tables found in federal and state instruction pamphlets.
Tip: To see examples of how to set up formulas and tables, open the sample company Bellwether Garden Supply. From the File menu, select Payroll Formulas, then User-Maintained. Select a tax that resembles what you are trying to set up and note the formula and (if applicable) the table in the example. These formulas and tables are only examples; you should verify their accuracy by checking the latest calculation rules from the IRS (www.irs.gov) or your state or local tax authority, or by making sure the values entered match company policies (for examples regarding 401K, vacation, etc.).
You must subscribe to a Sage Business Care plan to access payroll formulas within Sage 50.
The Table is used only by the TABLE function, and is used as described in the instructions for the TABLE function, above. If your formula does not use the TABLE function, then you do not need to enter anything in this window.
The amounts entered into the “Gross more than” column must be entered in each row in increasing order. Any rows that are beyond the end of the table must have a zero entered into the “Gross more than” column.
During calculations, the argument expression, normally the annual adjusted gross, is looked up in the “Gross more than” column and then that row is used to calculate the tax. The tax is calculated by finding out the amount by which the gross exceeds the amount in the “Gross more than” column. This amount is multiplied by the percentage in the “Plus%” column (i.e., multiplied by the amount and then divided by 100) to come up with the marginal tax. This amount is added to the amount in the “Withhold” column to come up with the result of the Table function.