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The purpose of this email 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 2 on page 23 in the following web site link:
http://www.hacienda.gobierno.pr/downloads/pdf/publicaciones/TABLAS%20DE%20RETENCION%202008.pdf
Using Appendix 1 on page 19, the calculated Annual "Allowance For Deductions" Amount plus the Annual "Personal Exemption" Amount should be entered in the next to last field in each employee record. For example, if the calculated amount for the Annual Allowance For Deductions Amount for a Single employee is $500, then 500 plus the Annual Personal Exemption Amount of $1300 (1800 total) would be entered in the next to last field in the employee record.
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