Updated 2013 Q1 Tax Tables for Sage 100 ERP

Sage has released a new update to the Sage 100 ERP (formerly MAS 90 / MAS 200) payroll tax tables for the first quarter of 2013.  This update contains the new Federal withholding tables released by the IRS last week as well as the federal dependent exemption increase to $3,900.  Changes were also made to various state tax tables (including Illinois).

To download these new tax tables, log into the Sage Customer Portal at https://customers.sagenorthamerica.com.  On the left side, under the Download Product Updates section, click the Tax Table Update link.  To verify that the new tax table update was installed successfully, preview the Installed Modules Listing under Library Master>Reports and verify that the 2013-Q1 Tax Tables show a release date of 1/4/2013.

The Federal tax tables for 2013 also include the following:

• an increase in the employee Social Security tax rate from 4.2% to 6.2%
• an increase in the Social Security wage base for both employees and employers to $113,700
• a calculation for an additional employee Medicare tax of .9% on wages over $200,000

For additional assistance with installing this update, give us a call at 877-526-8226 or email support@c-gconsulting.com.