Maine Tax
For Maine residents, you specify the employee's status and exemptions.
Deltek Modification Date - 12/14/23
Enter the following field information for residents of Maine on the Withholding grid on the Payroll tab of the Employees hub:
Field | Description |
---|---|
Status | Enter the marital status claimed by the employee for federal income tax purposes on Form W-4:
Maine has eliminated the status of 2. Vantagepoint treats status S and status 2 in the same way. |
Exemptions | Enter the total number of allowances claimed by the employee for federal income tax purposes on Form W-4. This figure includes:
|
Other Exemptions | Maine’s tax calculations do not use the Other Exemptions field. |
Automatically Calculated Variables
Vantagepoint automatically computes the allowance based on the exemptions claimed by the employee.
Allowance
The allowance is determined by multiplying the number of exemptions claimed in the first Exemptions field by $5,000.
How Vantagepoint Calculates Tax
To calculate an employee's Maine State tax, Vantagepoint does the following:
- Multiplies the employee's gross pay per pay period by the number of pay periods in a year to determine annualized gross wages.
- Subtracts the employee's allowance and 401(k) and 125/Cafeteria plan contributions from the employee's annualized gross wages to determine taxable income.
- Calculates the computed income tax by applying Tax Calculation Method 1 to the taxable income.
- Divides the net income tax by the number of pay periods in a year to determine the amount to be withheld for the pay period.
- Rounds the final results of calculations to the nearest whole dollar.
Parent Topic: State and Local Tax Fact Sheets