Tax Types

The Tax Type form contains a default list of all the available taxes, which can be associated with employees or Tax Groups.  VisionCore automatically includes an extensive list of predefined taxes.  You can add, edit or delete taxes as needed using this form.  For a detailed explanation of all the fields on this form, refer to Adding Tax Types.

Several Tax types are setup as system taxes and cannot be changed or deleted.  These system taxes include Federal, FICA Social Security and FICA Medicare.

For over 10 years until 2010, computation of FICA SS for employee and employer were always identical and always 6.2%. In 2011, the government changed this to where the Employee pays 4.2% and the Employer pays 6.2%.

Examples of payroll taxes include Federal, Social Security, Medicare and State.

It is very important to select the appropriate Liability Account ID from the Chart of Accounts for each of the tax types.  You can choose the sort order of the tax type form by clicking the Right Mouse button in any of the fields and changing the sort order of that field.

Toolbar Buttons

Toolbar Buttons perform an action on the current record like adding, deleting or saving.

The New button will clear the form to allow a new tax types to be added.

The Save button will save the changes made in the form.

The Find button will enable you to Find tax types.

The Delete button will delete the selected tax type.

The Undo button will cancel out the last change/s done to the record reverting it to its older state.

The Update Employees button will mass update all employee taxes and tax groups with the tax setup on this form.  See Payroll Mass Update

The Close button will close the form.

Press F1 or click F1-Help button in the Status bar for help on how to use the form.

Related Topics

2011 Payroll Tax Tables Breaking Changes