A new version of Payroll Mate ® payroll software has been released to implement Ohio’s New Income Tax Cut.
Ohio’s House Bill 59 (H.B. 59) cuts Individual Income Tax Rates 10% or $3 billion over the next three years.
Ohio employers must implement the new withholding tables starting September 1, 2013.
Below are the new tables:
More Than But Not More Than Amount To Be Withheld Is:
| $ 0 | $ 5,000.00 | 0.581% of such amount | |||
| 5,000.00 | 10,000.00 | 29.05 | plus | 1.161% of excess over | $ 5,000.00 |
| 10,000.00 | 15,000.00 | 87.10 | plus | 2.322% of excess over | $ 10,000.00 |
| 15,000.00 | 20,000.00 | 203.20 | plus | 2.903% of excess over | $ 15,000.00 |
| 20,000.00 | 40,000.00 | 348.35 | plus | 3.483% of excess over | $ 20,000.00 |
| 40,000.00 | 80,000.00 | 1,044.95 | plus | 4.064% of excess over | $ 40,000.00 |
| 80,000.00 | 100,000.00 | 2,670.55 | plus | 4.644% of excess over | $ 80,000.00 |
| 100,000.00 | 3,599.35 | plus | 5.805% of excess over | $100,000.00 |
Click here to download a new version of Payroll Mate with the latest withholding tables.