Vertex® Payroll Tax L Series®
Vertex Payroll Tax L Series for legacy/mainframe environments calculates federal, state, Canadian, Puerto Rico, U.S. territories and local withholding taxes, as well as unemployment and disability insurance contributions, using up-to-the-minute data compiled by Vertex. It also calculates railroad, retirement and miscellaneous taxes, and covers over 5,000 local requirements.
Features
- Over 5,000 Local Payroll Tax Requirements: Calculates federal, state, Canadian, Puerto Rico, U.S. territories and local withholding taxes, as well as unemployment and disability insurance contributions, using up-to-the-minute data compiled by Vertex. It also calculates railroad, retirement and miscellaneous taxes.
- Reciprocal Agreements Recognized: Among states, cities and counties, and calculates state and local taxes accordingly. Even where formal reciprocal agreements don't exist, the system calculates and applies all appropriate credits to the resident state tax.
- GeoCoder Location System: Allowing you to automatically apply GeoCodes to each employee's payroll/personnel record during installation or updating.
- Voluntary Withholding: Where voluntary withholding for an employee's resident state is requested, the system calculates state income tax for both the work state and the resident state, passing the total state income tax of the work state and the difference between the resident state and the work state income taxes back to your payroll system.
- Additional features Include:
- Subscription priced per state
- Monthly updates
- No user tax-rate changes required
- Local taxes recognized
- All state reciprocals recognized
- All local reciprocals recognized
- Multi-state SUI
- Multi-state SIT
- Railroad Retirement
- Advanced gross-up search algorithm
- Date-sensitive tax calculation
- Before/after calculation reporting
- GeoCode location coding
- Vertex Payroll Tax L Series is available in COBOL, including update programs, tax calculation programs, and load and print programs in your choice of either CD ROM or electronic download.
- Taxes covered by Vertex Payroll L Series:
- Federal withholding
- State withholding
- All state reciprocals
- County and city withholding for over 3,500 localities (including reciprocals)
- FICA (employer and employee)
- Federal unemployment (employer)
- State unemployment (employer and employee)
- State disability (employer and employee)
- Withholding methods used by L Series:
- Annualized gross
- Cumulative
- Supplemental pay (see details below)
- Supplemental withholding types:
- Flat percent
- Concurrent aggregation
- Separate aggregation
- Aggregation with pay periods
- Additional features:
- Calculation of tax on 401(k) and cafeteria plans (section 125)
- Advanced Earned Income Credit calculation
- Additional withholding tax amounts allowed
- Percentage or dollar override capabilities for special situations
- Personal exemptions stated in numbers of exemptions, dollar amounts, or both
- Vacation advances
- Resident and non-resident status supported
- Replacement CD-ROM containing all tax rates supplied whenever changes occur -- no need to recompile calculation program for routine rate changes
- Automatic GeoCode location code assignment
Learn more about Vertex Payroll Tax Solutions or contact us today.