Updated Payroll Tax Liability Formula for Dynamics GP
- by Ryan McBee
Prior to the latest Payroll Update for Great Plains, you could do an audit check of the Payroll Tax Liability GP calculation by simply taking Federal Tax Witholding + Fica Medicare Withholding times 2 + Fica SSN times 2. As you probably know by now, the Employers portion of FICA is 6.2% and the Employers portion has been reduced to 4.2%.…