Income tax rates

[huggybear]

Hello,

I'm building a payroll worksheet. Does anyone know where I can find the formula used by the feds to calculate income tax withholding? Also, is there a way to find the same for state taxes?

Thanks, Bear

 

[Doroth]

For the federal withholding information you can find information at

http://www.irs.gov/pub/irs-pdf/p15.pdf.

I suspect you could find tax information at each individual state. It might be easier to just buy a software package, and have an accountant experienced with the program set it up.

 

[red54]

Look in the Circular E pamphlet. There is a formula there for federal tax rates.
Time flies when you don't know what you're doing...

 

[huggybear]

Thank you both. The reason I don't want to use a software package is that with so few employees, it is not worth the cost, especially with updates every time something changes.

Bear