Contents of the Manage Local Standard Deductions Screen
Use the fields and options to configure the Manage Local Standard Deductions screen.
Contents
| Field | Description |
|---|---|
| Locality |
Enter, or click
|
| Filing Status |
Use this drop-down list to select the filing status that applies to this table. Valid options are:
|
to select, the code that identifies the locality. Locality codes are validated against Costpoint's Local Taxes table. The locality name displays after the
Local Standard Deductions
Click
to enter a new row.
| Field | Description |
|---|---|
| Effective Date |
Enter, or click
|
| Standard Deduction % |
If your locality allows taxpayers to take a standard deduction based on gross annual income, enter the deduction percent here. This standard deduction is factored into each employee's local withholding. The standard deduction is generally a percentage of annual income with a maximum ceiling and/or a minimum deduction floor. If this locality allows such a standard deduction, enter the appropriate information here. |
| Minimum |
Enter the minimum standard deduction amount. |
| Maximum |
Enter the maximum standard deduction amount. |
to select, the date on which this standard deduction becomes effective. Pay periods having a pay cycle end date the same as, or later than, the Effective Date use the related table rates. The format for effective date is MM/DD/YYYY.