Payroll Tax Q Series provides a complete payroll tax solution covering all federal and state withholding requirements, plus more than 8000 local requirements.
Q Series end-to-end functionality, and authoritative Vertex tax research give you the power to meet today's needs, and the poise to respond to tomorrow's. Just when you think payroll rates and calculations have reached a maximum level of complexity, they stretch a little farther. Q Series for Payroll keeps pace -- accurately calculating federal, state, Canadian, U.S. territories, Puerto Rico and local taxes on all regular and supplemental wages for multiple work locations per employee. You imagine the payroll tax situation, no matter how specific or unique, and Quantum is up to it. - For a specific net pay: Whether it's moving expenses, bonuses and income of foreign nationals, Q Series advanced net-to-gross logic calculates tax amounts and appropriate gross pay. - For advanced vacation pay: Q Series prorates taxes according to the period of vacation being paid -- including partial and multiple periods. - For tips: Q Series determines taxability and adds them to gross wages before calculating taxes. - For IRS qualified benefit plans: Q Series stores the taxability and maximum contribution limits for 401(k), 403B, 457 and 125 Cafeteria Plans, subtracting contributions from gross compensation (where appropriate) before calculating taxes. Q Series calculates the entire range of standard Federal, State and Local taxes including Miscellaneous and surcharges. Plus, only Q Series recognizes all formal reciprocal agreements among states, cities and counties, and calculates state and local taxes accordingly. Even where formal reciprocal agreements don't exist, the system calculates and applies all appropriate credits to the resident state tax. It's almost like having a trained consultant on staff.
Q Series Payroll offers the most complete coverage of calculation methods in the industry - handling all preferred and alternate federal-, state- and locally-approved methods including: - Annualized Preferred method for federal withholding tax calculation and the most common among states. - Cumulative Alternate method of calculating federal and certain state withholding taxes. - Flat Percentage Applies to most local taxes and Pennsylvania state withholding. - Concurrent Aggregation Annualized method for regular and supplemental wages paid at the same time. Regular and supplemental wages added together before tax calculation. - Cumulative Aggregation Cumulative method for regular and supplemental wages paid at the same time. Regular and supplemental wages added together before tax calculation. - Previous Aggregation For supplemental wages paid separately. Supplemental wages combined with previous regular wages before tax calculation. - Self-Adjust For closed-ended taxes calculated up to a maximum amount for the year, this method continually adjusts tax amount so Y-T-D tax is correct at end of year. - Other Vertex uses the exact published tax formulas required by taxing jurisdictions without alteration, including special methods for particular taxes and jurisdictions, incorporating minor variations as required by the jurisdiction.
|Solution Availability||United States|
|Company Size Solution is Targeting||< 50|
|Open Source Solutions||No|
|Human Capital Management (HCM)|
Vertex and Oracle have been partnered since 1992 to offer mutual customers a suite of integrated tax process solutions. Today, over 750 customers are using Vertex's authoritative tax content and process automation tools, integrated across applications in Oracle E-Business Suite. Vertex provides customers with tax automation solutions that help them better manage U.S. sales tax and consumer use tax, International and value added taxes, and payroll tax. Vertex also offers industry specific tax solutions for Retail and Leasing.