New Jersey Withholding Tax Change

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Payroll Support New Jersey Withholding Tax Change Article ID: 1012463 Overview The New Jersey Department of Treasury released revised withholding tables, effective January 1, 2009. These tables will increase the withholding tax calculations for employees with incomes of $400,000 or more. This change is based on legislation that was signed into law on June 29, 2009 regarding the current state budget.� The agency is requesting that employers begin using the revised Withholding Formulas as soon as possible, but no later than October 1^st 2009.� Additional information can be found at the Agency?s website and the new withholding tables can be viewed here. Intuit QuickBooks Payroll is releasing Payroll Update 20919 to comply with these changes. Information Frequently Asked Questions How do I know if I?m affected? You may be affected if: You currently withhold�New Jersey�income taxes from employees; and You make withholding tax payments in the State of New Jersey; or If you currently have a valid�New Jersey�Employer Identification No. When are the revised withholding tables effective? These changes are effective for taxable years beginning on or after January 1, 2009.� Intuit QuickBooks Payroll will modify the Withholding Formulas in the next Payroll Update, 20919, to be released August 13, 2009. Do I have to adjust withholding tax calculations done prior to installing Payroll Update 20919? You do not need to make any adjustments to withholding taxes that were calculated using the prior withholding tables. Since withholding tax calculations do not self adjust in QuickBooks and the revised� Withholding Formulas will increase the state withholding tax for wage earners that exceed the $400,000 wage bracket, employers may want to ask their employee(s) if they want to adjust their withholding tax on future payroll checks.� If the employee(s) chooses to adjust their future withholding tax, they will need to complete a new state withholding NJ-W4 form. What do I need to do? You will need to download and install Payroll Update 20919 as soon as it is released so the correct amount of withholding taxes will be calculated and withheld from affected employee paychecks from that date forward.� If you have Automatic Updates turned on and have selected all updates to download automatically, your QuickBooks software will download and install the update for you.� If you do not have Automatic Updates turned on, you can download this payroll update manually.� For more information on how to download and install a Payroll Update, click here. What about subscribers to the QuickBooks Disk Delivery service? The next Disk Delivery is scheduled for late August 2009.� Disk Delivery service subscribers who have internet access may want to download Payroll Update 20919.� For more information on how to download and install a Payroll Update, click here. Did this article help you? Yes, it did... No, it didn't... Your Feedback		Top Answers Renewing Your Payroll Service Setting Up QuickBooks Payroll Service Understanding a Charge in Your Account Finding, Entering and Editing Your Service Key Errors Updating Payroll Cancelling Your Payroll Subscription Activating or Unlocking Your Payroll Service Received a tax notice Payroll Administrator Email Address Change Stimulus 2009 Year End Find answers to your year-end payroll questions. Assisted Year End Center QuickBooks Year End Center QuickBooks Technical Support Internal Revenue Service On-Demand Training Get Started Most Used Forms Individual Forms Bank Account Changes Direct Deposit Authorization Legal Name Change Request Assisted Request for Copies of Tax Information Account Changes PIN Replacement Request Individual Federal Forms IRS Form 8822: Change of Address IRS Form SS-4: Application for Employeer identification Number IRS Form 8655: Reporting Agent Authorization Justice Department Form I-9: Employment Eligibility Verification Form W-4: Employee's Witholding Allowance Certificate ViewMyPaycheck How many times have you had to reprint the pay stubs and W2's for your employees because they misplaced it or lost it? QuickPayroll Pay employees and work with your accountant on taxes Important information about your QuickPayroll service The latest Program Release of QuickPayroll is R13. If you are unable to connect for updates, you need to manually update your program and your Tax Table. Save the QuickPayroll User's Guide to your hard drive for future reference or printing. Payroll Tax Compliance Contact Us Click here to see more options for immediate answers