Federal Income Tax Withholding
A new publication by the IRS describes how to figure withholding using the Wage Bracket Method or Percentage Method, describes the alternative methods for figuring withholding, and provides the Tables for Withholding on Distributions of Indian Gaming Profits to Tribal Members.
Click here to view the full Publication 15-T (2024)
Maryland State Income Tax Withholding
Maryland law provides that the Comptroller prepare a percentage income tax withholding method that shows the percent of State income tax to be withheld from wages. The percentage used is relative to median local tax rates of Maryland’s 23 counties and Baltimore City.
Withholding is a combination of the State income tax, which has rates graduated per taxable income, (see chart below) and local taxes. This combined tax appears under the heading of STATE TAX on all payroll documents, including the Employee’s Earnings Statement (pay stub) that is attached to all payroll checks and deposit advices.
Click here to view the entire PDF: 2024 Maryland State and Local Withholding Information
What’s New?
IRS Tax Withholding Estimator updated for 2024. Employees and payees may now use the IRS Tax Withholding Estimator, available at IRS.gov/W4App, when completing their 2024 Form W-4, Employee’s Withholding Certificate, or their 2024 Form W-4P, Withholding Certificate for Periodic Pension or Annuity Payments.
To Change Your Withholding:
- Use your results from the Estimator to help you complete a new Form W-4, (POSC login page, Option – Update Address / W4 (Tax Withholding), and
- Submit the completed Form W-4 to the Payroll Office (HH, Room 215) as soon as possible. Withholding takes place throughout the year, so it’s better to take this step as soon as possible.
The Salisbury University Payroll Office does not process your taxes. SU Payroll can, however, assist with your signing on to the POSC site if you need to do so by providing you with our Agency Code and your most recent check/advice number. You can email Payroll@Salisbury.edu for this information if you have never signed on to this site. If you have a sign-on and have forgotten it, there are links on the POSC site to recover these items, SU cannot assist with this as it is a Central Payroll Bureau site.