Policy Level Withholding
The Withholding screen is accessed from the Policy link on the Policy Entity Navigation menu. When a policy is opened that is configured to support policy level withholding, the Withholding link will be listed in the Entity Navigation list.
Withholding Detail
An explanation of the fields on the Withholding Detail portion of the Withholding screen is given below.
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Federal Percent: Percent of disbursements that should be held for federal taxes.
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State Percent: Percent of disbursements that should be held for state taxes.
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Opt-Out: "Yes" means that the policy is not subject to withholding. "No" means that the policy is subject to withholding.
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Federal Amount: Dollar amount that should be held for federal taxes.
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State Amount: Dollar amount that should be held for state taxes.
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State Form Returned: "Yes" means that the state withholding form has been sent to the state. "No" means that the state withholding form has not been sent to the state.
Important | Policy level withholding can be locked according to policy status. If the Withholding fields are disabled when the Withholding link is selected from the Entity Navigation list, then the policy status does not support the capture of withholding values. |
Steps to Set Policy Level Withholding
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Click Withholding from the Entity Navigation list. The Withholding detail will open.
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Enter the withholding percents or amounts in the fields provided.
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Click Save when the withholding details are complete.
An activity's withholding details can be set to process according to the policy level withholding or the activity level withholding. In the absence of policy withholding, established plan level withholding will apply.