|
The purpose of this web page is to help you setup TKT Payroll for proper Puerto Rico tax withholding.
Access the Puerto Rico Tax Table by clicking "Utilities" on the Main Menu bar, then highlighting "Withholding Rates" and clicking "State Annual Rates". Next, click the down arrow to select Puerto Rico. The percent amounts on the TKT Payroll table are taken from Appendix 3 on page 25 in the Employer's Guide in the following web site link:
http://www.hacienda.gobierno.pr/downloads/pdf/publicaciones/TABLAS_RETENCION
_2014.pdf
Using Example 1 for a single person receiving $2,200 per month ($26,400 annually) on page 4 of the Employer's Guide, the annual amount of 9500 should be entered in the next to last field in TKT Payroll employee record. The 9500 amount is calculated as follows:
$3500 - Appendix 1 Annual Personal Exemption
$4500 - Appendix 1 Annual Allowance for Deductions (9 X $500)
$1500 - Appendix 2 Annual Special Deduction for wages between $24500-$28500
_____
9500
|
