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FIT-Percentage Method Charts

This document contains tables and examples for calculating federal income tax withholding using the percentage method. The tables provide tax rates and thresholds for various pay periods (weekly, biweekly, etc.) based on filing status and wages. The examples demonstrate how to calculate taxes owed for married employees with different hourly wages and allowances claimed, by determining gross pay, subtracting allowances, finding the tax rate from the tables, and calculating the tax on the excess amount.

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3K views

FIT-Percentage Method Charts

This document contains tables and examples for calculating federal income tax withholding using the percentage method. The tables provide tax rates and thresholds for various pay periods (weekly, biweekly, etc.) based on filing status and wages. The examples demonstrate how to calculate taxes owed for married employees with different hourly wages and allowances claimed, by determining gross pay, subtracting allowances, finding the tax rate from the tables, and calculating the tax on the excess amount.

Uploaded by

Mary
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Percentage Method Income Tax Withholding Taxes Charts

One Withholding Allowance


70.19 140.38 152.08 304.17 912.50 1,828.00 3,650.00 14.04

Payroll Period
Weekly Biweekly Semimonthly Monthly Quarterly Semiannually Annually Daily or miscellaneous (each day of the payroll period)

MJC Revised 12/2011

Page 1

Percentage Method Income Tax Withholding Taxes Charts


Table 1 WEEKLY Payroll Period
(a)Single person(including head of household) If the amount of wages (after subtracting withholding allowances) is: The amount of Over--- But not over income tax to Of excess over withhold $0 $51 $0 plus 00% $0 $51 $200 $0 plus 10% $51 $200 $681 $14.90 plus 15% $200 $681 $1,621 $87.05 plus 25% $681 $1,621 $3,338 $322.05 plus 28% $1,621 $3,338 $7,212 $802.81 plus 33% $3,338 $7,212 $2,081.23 plus 35% $7,212 (a)Single person(including head of household) If the amount of wages (after subtracting withholding allowances) is: The amount of Over--- But not over income tax to Of excess over withhold $0 $102 $0 plus 00% $0 $102 $400 $0 plus 10% $102 $400 $1,362 $29.80 plus 15% $400 $1,362 $3,242 $174.10 plus 25% $1,362 $3,242 $6,677 $644.10 plus 28% $3,242 $6,677 $14,423 $1,605.90 plus 33% $6,677 $14,423 $4,162.08 plus 35% $14,423 (a)Single person(including head of household) If the amount of wages (after subtracting withholding allowances) is: The amount of Over--- But not over income tax to Of excess over withhold $0 $110 $0 plus 00% $0 $110 $433 $0 plus 10% $110 $433 $1,475 $32.30 plus 15% $433 $1,475 $3,513 $188.60 plus 25% $1,475 $3,513 $7,233 $698.10 plus 28% $3,513 $7,233 $15,625 $1,739.70 plus 33% $7,233 $15,625 $4,509.06 plus 35% $15,625 (a)Single person(including head of household) If the amount of wages (after subtracting withholding allowances) is: The amount of Over--- But not over income tax to Of excess over withhold $0 $221 $0 plus 00% $0 $221 $867 $0 plus 10% $221 $867 $2,950 $64.60 plus 15% $867 $2,950 $7,025 $377.05 plus 25% $2,950 $7,025 $14,467 $1,395.80 plus 28% $7,025 $14,467 $31,250 $3,479.56 plus 33% $14,467 $31,250 $9,017.95 plus 35% $31,250 (b)MARRIED person If the amount of wages (after subtracting withholding allowances) is: The amount of Over--- But not over income tax to Of excess over withhold $0 $154 $0 plus 00% $0 $154 $461 $0 plus 10% $154 $461 $1,455 $30.70 plus 15% $461 $1,455 $2,785 $179.80 plus 25% $1,455 $2,785 $4,165 $512.30 plus 28% $2,785 $4,165 $7,321 $898.70 plus 33% $4,165 $7,321 $1,940.18 plus 35% $7,321 (b)MARRIED person If the amount of wages (after subtracting withholding allowances) is: The amount of Over--- But not over income tax to Of excess over withhold $0 $308 $0 plus 00% $0 $308 $921 $0 plus 10% $308 $921 $2,910 $61.30 plus 15% $921 $2,910 $5,569 $359.65 plus 25% $2,910 $5,569 $8,331 $1,024.40 plus 28% $5,569 $8,331 $14,642 $1,797.76 plus 33% $8,331 $14,642 $3,880.39 plus 35% $14,642 (b)MARRIED person If the amount of wages (after subtracting withholding allowances) is: The amount of Over--- But not over income tax to Of excess over withhold $0 $333 $0 plus 00% $0 $333 $998 $0 plus 10% $333 $998 $3,152 $66.50 plus 15% $998 $3,152 $6,033 $389.60 plus 25% $3,152 $6,033 $9,025 $1,109.85 plus 28% $6,033 $9,025 $15,863 $1,947.61 plus 33% $9,025 $15,863 $4,204.15 plus 35% $15,863 (b)MARRIED person If the amount of wages (after subtracting withholding allowances) is: The amount of Over--- But not over income tax to Of excess over withhold $0 $667 $0 plus 00% $0 $667 $1,996 $0 plus 10% $667 $1,996 $6,304 $132.90 plus 15% $1,996 $6,304 $12,067 $779.10 plus 25% $6,304 $12,067 $18,050 $2,219.85 plus 28% $12,067 $18,050 $31,725 $3,895.09 plus 33% $18,050 $31,725 $8,407.84 plus 35% $31,725

Table 2 BIWEEKLY Payroll Period

Table 3 SEMIMONTHLY Payroll Period

Table 4 MONTHLY Payroll Period

MJC Revised 12/2011

Page 2

Percentage Method Income Tax Withholding Taxes Charts


Formula to calculate FIT Taxes Example 1
A married employee, who declared three allowances, earning $12.75 per hour for eighty hours with biweekly pay periods will pay X amount of dollars in federal income taxes. Step 1: Calculate the dollar amount of allowance deductions: Dollar amount of allowance times number of deductions declared equal allowance deduction from gross pay. Allowance Number of Deductions Deduct from gross pay $140.38 3 $421.14 Step 2: Calculate dollar amount of gross pay: Hours worked biweekly times wage per hour rate equals total gross pay. Hours Pay Rate Per hour Total gross pay 80 $12.75 $1,020 Step 3: Federal income tax calculation: Gross Wages $1,020.00 Dollar amount of allowance deduction 421.14 Wages after deduction of allowances 598.86 Of excess over from chart 2 308.00 Amount to be taxed 290.86 Times rate of tax 15% Federal income tax $29.09

MJC Revised 12/2011

Page 3

Percentage Method Income Tax Withholding Taxes Charts


Formula to calculate FIT Taxes Example 2
A married employee, who declared three allowances, earning $35.00 per hour for eighty hours with biweekly pay periods will pay X amount of dollars in federal income taxes. Step 1: Calculate the dollar amount of allowance deductions: Dollar amount of allowance times number of deductions declared equal allowance deduction from gross pay. Allowance Number of Deductions Deduct from gross pay $140.38 3 $421.14 Step 2: Calculate dollar amount of gross pay: Hours worked biweekly times wage per hour rate equals total gross pay. Hours Pay Rate Per hour Total gross pay 80 $35.00 $2,800 Step 3: Federal income tax calculation: Gross Wages $2,800.00 Dollar amount of allowance deduction 421.14 Wages after deduction of allowances 2,378.86 Of excess over from chart 2 921.00 Amount to be taxed 1,457.86 Times rate of tax 10% Amount of tax from excess 218.68 Base Tax from chart 61.30 Federal income tax $279.98

MJC Revised 12/2011

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