Before Getting Started
- Contact Tax Specialist to obtain PTM Tax Codes. (COFLI-EE and COFLI-ER)
EE Portion
2.Check the Payroll Tax Setup Table (Setup>Payroll Tax Setup>Additional State WH)
a. If the Code is there, Note the Payroll Calc Code. (You will need to use this in the Payroll Calc Lines for this Pay Code.
b. If it is not there, go to Setup>Payroll Setup, Get Tax Settings. If after processing, you still do not see it, reach out to Support.
3. Set up the Payroll EE Tax Code (Setup>Payroll Codes)
4. Add the Withholding to the Payroll Calc Formula(s). (Setup>Payroll Calc Formulas. Select “_REGULAR”>Setup>Lines.
c. Make sure to indicate the State.
d. Make sure to indicate the appropriate formula.
Repeat for additional Payroll Calc Formulas.
5. Add to GL Posting Setup. (Posting Setup/Withholding/Deductions)
ER Portion
6. Set up the Payroll ER Tax Code (Setup>Payroll Codes)
7. In Payroll Setup, add this Employer Tax to the “Addl. Employer Tax Codes” field.
8. Add the Employer Tax to the Payroll Calc Formula(s). (Setup>Payroll Calc Formulas. Select “_REGULAR”>Setup>Lines.
e. Make sure to indicate the State of “CO”
f. Make sure to indicate the appropriate formula of “EMP TAX 1”
Repeat for additional Payroll Calc Formulas.
9. Setup the Percentage and Tax Limit like a SUI Tax. (Periodic Activities>Employer Tax Rate / Limit Update. (Note: Use the dates and amounts for the appropriate year).
a. Select OK
10. You will receive the following message:
a. Select “Yes”.
11. You will receive the following message:
a. Select “OK”.
12. Add to GL Posting Setup. (Posting Setup/Employer Taxes)
