Delaware Tax
For Delaware residents, you specify the employee's status and exemptions.
Deltek Modification Date - 11/21/11
Enter the following field information for residents of Delaware on the Withholding grid on the Payroll tab of the Employee Info Center:
Automatically Calculated Variables
Vision automatically computes the following variables based on the exemptions and filing status claimed by the employee.
Standard Deduction
Vision calculates the standard deduction using a table based on an annual deduction of $3,250 for single employees, $6,500 for married employees filing jointly, and 3,250 for married employees filing separately.
Tax Credit
Vision calculates the credit based on the number of exemptions claimed in the Exemptions field. Vision determines the amount of the credit by multiplying the number of exemptions by $110.
How Vision Calculates Tax
To calculate an employee's Delaware State tax, Vision does the following:
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Multiplies the employee's gross pay per pay period by the number of pay periods in a year to determine annualized gross wages.
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Subtracts the employee's Standard Deduction, and 401(k) and 125/Cafeteria plan contributions from the employee's annualized gross wages.
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Calculates the computed tax, using Tax Calculation Method 1.
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Subtracts a Credit (if applicable) from the computed tax, to determine the net income tax.
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Divides the annual income tax by the number of pay periods in a year to determine the amount to be withheld for the pay period. If the result is less than or equal to zero, no tax is withheld.