Maryland 2024 Tax Updates

The updates for Maryland are:

• The minimum standard deduction increases from $1,700 to $1,800.

• The maximum standard deduction increases from $2,550 to $2,700.

Cecil County

• The income tax rate increased from 2.75% to 2.8%.

Anne Arundel County

• For taxpayers with filing statuses of Single, Married Filing Separately, or Dependent, the local tax rates are as follows:

  • .0270 of Maryland taxable income of $1 through $50,000

  • .0281 of Maryland taxable income of $50,001 through $400,000

  • .0320 of Maryland taxable income of over $400,000

• For taxpayers with filing statuses of Married Filing Jointly, Head of Household, or Qualified Surviving Spouse, the local tax rates are as follows:

  • .0270 of Maryland taxable income of $1 through $75,000

  • .0281 of Maryland taxable income of $75,001 through $480,000

  • .0320 of Maryland taxable income of over $480,000

Frederick County

• For taxpayers with filing statuses of single, married filing separately and dependent taxpayer, the local tax rates are as follows:

  • .0225 for taxpayers who have a net taxable income between $1 and not exceeding $25,000

  • .0275 for taxpayers who have a net taxable income between $25,001 and not exceeding $50,000

  • .0296 for taxpayers who have a net taxable income between $50,001 and not exceeding $150,000

  • .0320 for taxpayers who have a net taxable income of $150,001 or more

• For taxpayers with filing statuses of married filing jointly, head of household, or qualified surviving spouse, the local tax rates are as follows:

  • .0225 for taxpayers who have a net taxable income between $1 and not exceeding $25,000

  • .0275 for taxpayers who have a net taxable income between $25,001 and not exceeding $100,000

  • .0296 for taxpayers who have a net taxable income between $100,001 and not exceeding $250,000

  • .0320 for taxpayers who have a net taxable income of $250,001 or more

For more information, see the Maryland Employer Withholding Guide: https://www.marylandtaxes.gov/forms/24-forms/Withholding-Guide.pdf

Massachusetts 2024 Tax Update

The updates for Massachusetts are:

• The surtax, which is 4% on income of more than $1,053,750 for 2024, has been included in the withholding method.

• The amounts that could be added to state allowances for heads of households or blindness were removed, leaving only amounts that can instead be subtracted from the tax owed by heads of households or blind individuals.

• A similar percentage method applies to pension or annuity payments with the same surtax threshold.

For more information, see the Massachusetts Circular M: https://www.mass.gov/doc/massachusetts-circular-m-income-tax-withholding-tables-at-50-effective-january-1-2024/download

Michigan 2024 Tax Update

The updates for Michigan are:

• The value of a state allowance increases from $5,400 to $5,600.

• The flat income tax rate increases from 4.05% to 4.25%. 

• The withholding rate is 4.25 percent of compensation after deducting the personal and dependency exemption allowance.

For more information, see the Michigan Withholding Tax Information: https://www.michigan.gov/taxes/business-taxes/withholding/calendar-year-tax-information

Minnesota 2024 Tax Updates

The updates for Minnesota are:

• The value of the state allowance increases from $4,800 to $5,050.

• The tax brackets used in the percentage method were adjusted.

For more information, see the 2024 Minnesota Income Tax Withholding Instruction Booklet and Tax Tables: https://www.revenue.state.mn.us/sites/default/files/2023-12/wh-inst-24_1.pdf

Mississippi 2024 Tax Updates

For Mississippi, the flat tax rate decreases from 5% to 4.7%.

For more information, see the Computer Payroll Accounting PDF: https://www.dor.ms.gov/sites/default/files/Business/Computer%20Payroll%20Flowchart%20-%2009-26-23.pdf

North Dakota 2024 Tax Updates 

For North Dakota, the tax brackets used in the percentage method were adjusted.

Percentage Method (Forms W-4 before 2020)

Withholding Methods (Forms W-4 for 2020 and after)

For more information, see the North Dakota income tax Withholding Rates and Instructions: https://www.tax.nd.gov/sites/www/files/documents/forms/business/it-withholding/income-tax-withholding-rates-and-instructions-booklet.pdf

Oregon 2024 Tax Updates

The updates for Oregon are:

• For an employee with annual wages up to $50,000, the federal tax adjustment amount increases from $7,800 to $8,250.

• For an employee with annual wages up to $50,000, the tax table has changed.

• For an employee with annual wages of $50,000 or higher, the tax table has changed.

• The state allowance amount increases from $236 to $249.

• The standard deduction amount increases for the following statuses:

  • Single with fewer than 3 allowances: From $2,605 to $2,745

  • Single with 3 or more allowances: From $5,210 to $5,495

  • Married: From $5,210 to $5,495

For more information, see the Oregon Withholding Tax Formulas: https://www.oregon.gov/dor/programs/businesses/Documents/withholding-tax-formulas_206-436_2024.pdf

Performance Enhancements for Project and Project Detail Dashpart Bases

Changes to the underlying logic of dashparts with the Project and Project Detail dashpart bases improve how data is processed and displayed. These enhancements are more noticeable when the affected dashparts contain large datasets.

Defect 2069835: On the Units tab in Interactive Billing, when you added a billing unit and you typed the first few characters of a unit name in the Unit field on the Billing Unit Insert dialog box, the unit was not found even though it existed. If you used the lookup in the Unit field, the unit was correctly returned in the lookup list. This issue occurred if there were more than 100 units across multiple unit tables that started with the same letters or numbers as the unit that you were looking for.

Defect 2072682: Labor transfers to a newly created lower work breakdown structure level within the same project caused the billing rate and billing extension to be zero for the transferred line on the Labor tab of the Interactive Billing form and on the Unbilled Detail report.

Defect 2033281: On the Bank Reconciliation form, the value in the Calculated Balance field was rounded off to two decimal places even if you set the currency to round off to four decimal places in Settings » Currency » Options.

Defect 2064073: This issue occurred on the Import tab of the Bank Reconciliation form, when you imported transactions from a bank statement and selected in one of the rows. On the Match Transactions dialog box, Vantagepoint did not consider a posted record as a match (the Select checkbox was not automatically selected), even if the date and amount of the posted record matched the date and amount of the imported record.

Defect 2074706: This issue applies if you use multiple companies. On the Payments tab of the Bank Reconciliation form, a payment transaction appeared twice in the Payments grid. This issue occurred if you did the following before processing the payment:

• You set Vantagepoint to print separate checks for each voucher submitted by the vendor (on the Vendor tab of Hubs »  Firms » Firms).

• You created a wire vendor payment run in Cash Management »  Vendor Payments.

• After selecting vouchers to include in the run, you entered an exchange rate in Wire Settings and applied the changes.

Defect 2069522: On the Vendor Payments form, when you crated a wire payment run and entered a negative amount in the Bank Amount field on the Wire Settings dialog box, you received an error message related to that field.

Defect 2075098: This issue applies if the Federal Information Processing Standards (FIPS) is enabled for your computer (or workstation). When you logged in to the desktop application, you received this error message: "This implementation is not part of the Windows Platform FIPS validated cryptographic algorithms."

Defect 2071012: Primary keys for the EMMain and EMCompany tables were missing from your database when you upgraded to Vantagepoint version 6.5.

Defect 2068597: When you selected a firm on the Firm Hierarchy dialog box, you were unable to navigate to the firm record.

Defect 2083573: When you updated fields in the Projects hub, the date in the Won/Lost Date field was incorrectly prefilled with today's date.

Defect 2065891: When you clicked Financial Options and then, on the Options dialog box, selected any of the Exclude expenses or consultants checkboxes, the JTD <date> Cost/Billing calculation was not reflected for the amount in the JTD Earned Profit/Variance field in the Key Performance Indicators grid

Defect 2042583: When you displayed records in list view and exported the data to an Excel file, the exported file included system labels that were not in the user-defined hub.

Defect 2068549: This issue occurred if you enabled multi-factor authentication (MFA) to log in to Vantagepoint and the client identification associated with your account was changed due to licensing updates. You were unable to log in to Vantagepoint even with the correct login credentials and you received an "Invalid login" error message.

Defect 2076119: This issue applies if time and expense submissions required signatures. When you tried to access Mobile Time and Expense from your iOS device's browser application and then logged in with your Microsoft Entra ID, you received the following error message after submitting a timesheet or expense report: "There was no response from the server. Need to refresh application."

Defect 2052853: When you added a dashpart while working in Edit Mode on the Dashboards form, the default view was sometimes displayed at the bottom of the dashboard instead of the top.

Defect 2054602: This issue occurred when you included currency type user-defined fields in a dashpart. When you applied a presentation currency, the displayed currency for the user-defined column was not changed to the presentation currency.

Defect 2064400: Filter and sort settings were not applied to the Invoice Fully Paid column of dashparts with the AR Detail dashpart base. This issue occurred if you configured the dashparts as follows:

• You included the Invoice Fully Paid column.

• You applied filter or sort settings to exclude projects with no invoices and any invoices that were already set to zero.

Defect 2052750: When Vantagepoint sent an email alert to remind an employee that an expense report was waiting for approval--or that the approval for an expense report was past due--the employee's name was not displayed in the subject line or the body of the email message.

Defect 2067432: When you ran the Labor Resource Planned and Actuals report using different durations, the planned totals for the same reporting period did not match in the generated reports.

Defect 2022257: When you tried to copy a proposal element group, you received an error message.

Defect 2081970: When you changed to list view for saved searches, you received an error message. This issue occurred when you added custom fields to the Purchase Orders form in Other Actions » Design.

Defect 2066121: When you reassigned hours to another resource at the project level, the assignment date range exceeded the end date for its parent element in the work breakdown structure (WBS).

Defect 2082638: After you made licensing modifications, some earlier changes you made for hub tabs via Screen Designer were not saved.

Defect 20655484: User-defined fields for hubs displayed correctly in Screen Designer, but were vertically spread out too far in the hubs.

Defect 2056434: This issue occurred if your database contained a large number of cost/pay labor rate records. When you displayed the Cost Labor Rate Tables form, the form became unresponsive and you received an error message.

Defect 2060961: When you activated the EAC Exceeds Baseline alert and set the Amount to Evaluate option to Total for All, Vantagepoint did not sum up the baseline amounts of all planning grids.

Defect 2071518: When you changed the project stage from Lead to Execution and clicked Run New Number or Schedule New Number, the new project used the autonumbering default value instead of the value that you specified. This issue occurred for projects that have the Approved for Use in Processing option selected on the Accounting tab of the Projects form.

Defect 2026631: On the AP Vouchers entry form, when you entered a value in the Voucher field, filled in the other required fields, and saved the changes, you received this error message: "Value was either too large or too small for an Int32".

This issue occurred when you did the following:

• Set the Require Entry of Voucher Numbers option to Yes in Settings » Cash Management » Accounts Payable.

• Enabled the Multicompany application and switched from a single company database to a multicompany database

• Attempted to reverse a posted AP Voucher and failed, and then changed the value of the Voucher field

Defect 2072671: This issue applies if you use multiple companies in Vantagepoint. On the Cash Receipt transaction entry form, when you entered values for the required fields and then changed the value of the Bank field, you encountered the following errors:

• The value of the Amount field in the Project Information grid was changed to zero or retained the value of the original currency.

• The value displayed in the Currency field did not change to the bank currency.

Defect 2060062: When you imported cash receipts, you received a "Project is not permitted with a balance sheet or other charges Account" import error. This issue occurred when the Maintain separate balance sheets by Organization checkbox was not selected in Settings » Organization » General and you used a balance sheet account that had AR mapping in Settings » Billing » Accounts Receivable.

When the Maintain separate balance sheets by Organization checkbox was not selected, the cash receipt import should have allowed a project for an account that had AR mapping.

Defect 2068407: On the Change Number tab of the Organization Sub-Codes form, Vantagepoint should have displayed a warning message when you entered a new organization code number that was shorter than the defined field length for the organization level.