Missouri Tax
For Missouri residents, you specify the employee's status and exemptions.
Deltek Modification Date - 1/18/24
Enter the following field information for residents of Missouri on the Withholding grid on the Payroll tab of the Employees hub:
Field | Description |
---|---|
Status |
Enter the marital status claimed by the employee on the Missouri Employee’s Withholding Exemption Certificate, Form MO-W4.
|
Exemptions |
Enter the total number of allowances claimed by the employee on Form MO W-4. If the employee did not submit Form MO W-4, enter zero for the number of exemptions. |
Other Exemptions | Missouri’s tax calculations do not use the Other Exemptions field. |
Supplemental Wages
The supplemental wage payment flat percentage rate is 4.8%.
Automatically Calculated Variables
Vantagepoint automatically computes the following variables.
Standard Deduction
The standard deduction is a variable deduction applied to all employees. The amount of the deduction depends on the employee’s filing status.
Status | Deduction |
---|---|
S | $14,600 |
H | $21,900 |
M | $14,600 |
1 | $29,200 |
How Vantagepoint Calculates Tax
To calculate an employee's Missouri 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 standard deduction, allowance, federal income tax withholdings, and any 401(k) and 125/Cafeteria plan contributions from the employee's annualized gross wages to determine the taxable income.
- Calculates the net 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. Vantagepoint then rounds the withheld amount to the nearest dollar.