Sage 50 displays this dialog box when you select the Table button in the Sage-Maintained Payroll Formulas or User-Maintained Payroll Formulas windows. This is only used by the TABLE function of the tax formula. If your formula does not use the TABLE function, you do not need to enter anything into this dialog.
During calculations, Sage 50 matches the Gross more than column to the employee's gross and uses the row 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 arrive at the marginal tax figure. This amount is added to the amount in the Withhold column to arrive at the tax amount.
If taxable income is over: The amounts entered in this column must be entered in each row in increasing order. During calculations, Sage 50 matches the column to the employee's gross and uses the row to calculate the tax.
Withhold: Enter the withholding amount that corresponds to the amount in the If taxable income is over column. The amounts entered in this column must be entered in each row in increasing order.
Plus %: Enter the percentage amount to be added to the withholding amount based on the amount in the If taxable income is over column. The amounts entered in this column must be entered in each row in increasing order.
Note: Any rows that are beyond the end of the table must have a zero entered into the column.
You must subscribe to a plan that includes payroll to use and set up payroll formulas in Sage 50.