Goldenseal Payroll
Software Info
US Federal Withholding
Tables
Free 2021 Payroll
Tax Table Updates
|
Turtle
Creek Software provides free federal and state
withholding tax table updates around the first
of each year. Click here to download free updates
for Colorado and federal payroll tax tables.
Colorado has state income tax withholding, with just one deduction and a relatively flat tax rate. Withholding formulas
became even flatter in 2020. So far it appears they are unchanged for 2021. (rates have changed eleven
times in the past 31 years).
Colorado
State Withholding Instructions |
To enter withholding information for an employee in your Goldenseal company file,
follow these steps:
- Choose
Employees from the
Accounts menu.
- Locate
the employee record.
- Click
the Payroll Setup
button.
- Enter
the employee's marital
status into the Marital
Status field (see
note below).
- Enter
the number of federal
dependents into the
Federal Exemptions
field.
- Enter
the number of Colorado
state dependents
into the State Exemptions
field.
- Enter the Colorado
Tax Package
into
the Tax
Package
field. HINT--
If you
don't
see it
in the
list,
you'll
need
to import the
tax info
first.
- Click OK.
|
Colorado
State Unemployment Tax Instructions |
Colorado Unemployment Insurance tax is based
on the first $13,600
of annual wages for each
employee (2021 rate,
unchanged from 2020).
The starting rate is
1.77% for new businesses in general construction (higher for "heavy" construction, slightly lower for most others). After the
first year, the Colorado
SUTA tax rate is recalculated,
based on your past payroll
totals and unemployment
claims filed by your
employees.
To enter your Colorado SUTA tax rate
into the Goldenseal payroll
software, follow these steps:
- Choose
Payroll Setup from
the Costs menu, and
choose Tax Items
from the submenu.You'll
see a list of Tax
Items. Locate the
Colorado SUTA tax
in the list, and
double-click on it. HINT:
If you don't see
Colorado SUTA in
the list, you'll
need to import the
Colorado tax tables
first.
- Enter
the percentage rate
that you pay into
the percentage field
to the right of Calculation
method.
- If
the cutoff amount
has changed, enter
it into the dollar
field to the right
of First Adjustment.
|
Colorado
Marital Status |
Use the following to determine the value for
the Marital Status popup menu in each Employee account:
- Single-
single employee with
one personal exemption
- Married-
married employee
with two personal
exemptions
- Dual
Income- married employee
with one personal
exemption
- Head
of House- employee
claims Head of Family
status
- Other-
not used.
|
Colorado
Tax Contacts |
Withholding tax website
Payroll Tax Office-- 303 238-7378
SUTA rate info-- 303 837-3819
Worker's Comp-- 303 764-2929
Colorado Department of Revenue
404 Capitol Annex 1375 Sherman St Denver CO 80261 |
Little Known Colorado Tax Fact |
Contrary to popular opinion, Colorado residents are
not allowed to claim marijuana plants as dependents.
|
Official
State Lawn Ornament |
Fracking rig.
|
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