North Carolina Tax
For North Carolina residents, you specify the employee's status and exemptions.
Deltek Modification Date - 12/5/06
Enter the following field information for residents of North Carolina on the Withholding grid on the Payroll tab of the Employee Info Center:
Automatically Calculated Variables
Vision automatically computes the following variables.
Standard Deduction
The standard deduction is a table-based deduction that applies to all employees. The amount of the deduction depends on the employee’s filing status:
If the status is | Then the deduction is |
---|---|
Single | $3,000 |
Married | $3,000 |
Head of household | $4,400 |
Qualifying widow/widower | $3,000 |
Allowance
The allowance is based on the number of exemptions in the first Exemptions field. It is determined by multiplying the number of exemptions by $2,500.
If the annual income equals or exceeds the following amounts for the employee’s filing status, it is determined by multiplying the number of exemptions by $2,000.
If the status is | Then the deduction is |
---|---|
Single | $60,000 |
Head of Household | $80,000 |
Married | $50,000 |
Qualifying Widow/Widower | $50,000 |
How Vision Calculates Tax
To calculate an employee's North Carolina State tax, Vision does the following:
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Multiplies the employee's gross pay per pay period by the number of pay periods in a year to determine annualized gross wages.
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Subtracts the employee's standard deductions, allowance, and any 401(k) and 125/Cafeteria plan contributions from the employee's annualized gross wages to determine the taxable income.
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Calculates the net income tax by applying Tax Calculation Method 1 to the taxable income.
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Divides the net income tax by the number of pay periods in a year to determine the amount to be withheld for the pay period.
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Rounds the final results of calculations to the nearest whole dollar.