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How do I update my New Jersey Workforce Development, Family Leave Insurance, and State Unemployment Compensation fund rates?

Created on  | Last modified on 

Summary

How to view the current rates for New Jersey withholdings in Sage 50 Accounting.

Resolution

  • Your Sage 50 Payroll Solutions subscription and updates keep these rates maintained. Install the latest tax update to insure that you're up to date
  • Sage 50 combines these three rates into one rate, which shows as St_Unemp on the employee paycheck by default

To view the rate:

  1. Go to File, Payroll Formulas, Sage-Maintained.
  2. Click the down arrow button in the Formula ID box.
  3. Scroll through the list looking in the second column until you find NJSUI XX, where XX is the last two digits of the current year (for example, for 2024 it would show NJSUI 24).
  4. Look in the Formula box and verify that Sage 50 is showing the correct individual rates and combining them into the correct total rate.

 CAUTION: You shouldn’t manually alter or change your Sage-Maintained formulas. These formulas are updated and maintained by your Sage Payroll Solution updates and are accurate. If you manually adjust or change these formulas, Sage can no longer guarantee the accuracy of your payroll calculations.