With QuickBooks payroll tax table you can calculate and report taxes, fulfill your tax compliances with Internal Revenue Services and Tax agencies. Moreover, if you’re eyeing on the most current and accurate rates and calculations for supported provincial and federal tax tables, payroll tax forms and EFILE options, etc. then you must keep the QuickBooks payroll tax table updated. For that, you must have an active QuickBooks Desktop Payroll subscription. Make sure to update the tax table every time you pay your employees. However, the updates will be automatically installed if you’re having a QuickBooks Online Payroll subscription. By now, you would have surely understood the benefits of updating the tax table. Before you proceed with the update process, consider the factors mentioned in the next section.
How to install the newest available QuickBooks Payroll Tax Table updates? Get in touch with our experts for all such queries by dialing Asquare Cloud Hosting Helpline Number (+1.855.738.0359). Our support team is available 24/7 to assist you instantly.
Cautionary Steps Before You Update Payroll Tax Tables In QuickBooks
Before you begin with the QuickBooks Payroll Tax Table Update process, make sure you take into consideration the below-given factors:
- If you are planning to update the tax table, make sure to have an active payroll subscription.
- Ensure to have an updated version of the QuickBooks desktop.
- It’s essential to have a stable internet connection while updating the payroll tax table.
- We would suggest you download the tax table at least within 45 days. Alternatively, you may update the same each time you make a payment to your employees.
- If you want to receive the QuickBooks Payroll Tax Table Update automatically, you must turn on the automatic updates feature on the QuickBooks desktop.
How To Verify QuickBooks Payroll Tax Table Version?
The current version of the QuickBooks payroll tax table is 11430003 (QuickBooks Desktop 2021). It was released on June 24, 2021, and is effective from July 1, 2021, to December 31, 2021.
Not sure which version you have? Follow the below-given steps to verify QuickBooks Payroll Tax Tables:
- Open the QuickBooks application and go to the Employees menu.
- From there, choose My Payroll Service followed by Tax Table Information.
- The first three numbers would signify your tax table version under “You are using tax table version.” It should read as 11430003. However, if you have already updated your product earlier this year, you would have the release 114.
Note: To download the Latest QuickBooks Payroll Tax Table Update, you must use QuickBooks Desktop 2021, QuickBooks Desktop Enterprise Solutions 21.0, QuickBooks Desktop 2020, or QuickBooks Desktop Enterprise Solutions 20.0.
How To Download QuickBooks Latest Payroll Tax Table Updates?
Important: If you have your employees in Nova Scotia, you have to calculate the taxes differently because of the recent changes made to the TD1. For detailed instructions, follow the article Changes to the 2018 Nova Scotia Personal Tax Credits Return.
Follow the below-given steps to download the Latest QuickBooks Payroll Tax Table Update anytime while using the QuickBooks application:
- Open the QuickBooks application and go to the Help menu. From there, click on Update QuickBooks.
- Now, go to the Update Now tab and select Get Updates.
- When the download completes, exit QuickBooks Desktop.
Note: As of January 2021, disk delivery was discontinued, thus you won’t be able to update your tax tables via CD.
Which Features Can Avail If You Download The Latest Payroll Tax Table?
For the July 2021 tax table update, as of now, there are no new updates are available from the January 2021 payroll tax table update.
Note: Download the latest updates by activating the QuickBooks Payroll subscription. However, you can also automatically update the payroll tax table by turning on the automatic updates on the QuickBooks desktop.
Here’s The Current & Historical TD1, CPP, and EI Amounts
| Effective Date | 7/1/2021 | 1/1/2021 |
| Tax Table version # | 114 | 113 |
TDI Amounts
| Federal | 13, 808 | 13, 800 |
| AB | 19, 369 | 19, 369 |
| BC | 11, 070 | 11, 070 |
| MB | 9, 936 | 9,936 |
| NB | 10, 564 | 10,564 |
| NL | 9, 536 | 9,536 |
| NT | 15, 243 | 15,242 |
| NU | 16, 647 | 16,647 |
| ON | 10, 880 | 10,880 |
| PE | 10, 500 | 10,500 |
| QC | 15, 758 | 15,758 |
| SK | 16, 225 | 16,225 |
| YT | BPAYT | BPAYT |
| ZZ (employees outside Canada) | 0 | 0 |
Canada Pension Plan
| Effective Date | 7/1/2021 | 1/1/2021 |
| Tax Table version # | 114 | 113 |
Canada Pension Plan (CPP) – outside Québec
| Maximum Pensionable Earnings | 61, 600 | 61,600 |
| Basic Exemption | 3, 500 | 3,500 |
| Contribution Rate | 5.45% | 5.45% |
| Maximum Contribution (EE) | 3,166.45 | 3,166.45 |
| Maximum Contribution (ER) | 3,166.45 | 3,166.45 |
EI amounts
Employment Insurance (EI) – outside Québec
| Maximum Insurable Earnings | 56, 300 | 56,300 |
| Premium EI Rate (EE) | 1.58% | 1.58% |
| Premium EI Rate (ER) (1.4*EE) | 2.21% | 2.21% |
| Maximum Premium (EE) | 889.54 | 889.54 |
| Maximum Premium (ER) | 1,245.36 | 1,245.36 |
Quebec Pension Plan
| Effective Date | 7/1/2021 | 1/1/2021 |
| Tax Table version # | 114 | 113 |
Quebec Pension Plan (QPP)
| Maximum Pensionable Earnings | 61, 600 | 61, 600 |
| Basic Exemption | 3, 500 | 3,500 |
| Contribution Rate | 5.90% | 5.90% |
| Maximum Contribution (EE) | 3, 427.90 | 3, 427.90 |
| Maximum Contribution (ER) | 3, 427.90 | 3, 427.90 |
Employment Insurance (EI) – Quebec only
| Maximum Insurable Earnings | 56, 300 | 56, 300 |
| Premium EI Rate (EE) | 1.18% | 1.18% |
| Premium EI Rate (ER) (1.4*EE) | 1.65% | 1.65% |
| Maximum Premium (EE) | 664.34 | 664.34 |
| Maximum Premium (ER) (1.4*EE) | 930.08 | 930.08 |
Quebec Parental Insurance Plan (QPIP)
| Maximum Insurable Earnings | 83, 500 | 83, 500 |
| Contribution Rate (EE) | 0.49% | 0.49% |
| Contribution Rate (ER) (1.4*EE) | 0.69% | 0.69% |
| Maximum Contribution (EE) | 412.49 | 412.49 |
| Maximum Contribution (ER) (1.4*EE) | 577.82 | 577.82 |
Commission des norms du travail (CNT)
| Maximum earnings subject to CNT | 83, 500 | 83, 500 |
How Can You Resolve Payroll Update Issues?
If you have outdated TD1 amounts even after installing the Latest QuickBooks Payroll Tax Table Updates, then you need to perform the following checks:
- You need to check if it’s on or after the tax table effective date? For example, if you downloaded tax table version 114 on June 24, 2021, you won’t see the updated amounts until the tax table becomes effective July 1, 2021.
- After July 1, 2021, once you have downloaded the product update containing the new tax tables, the user will need to start a payroll or open and close QuickBooks desktop for TD1 amounts to update
- Have you ever adjusted the TD1 amounts manually at any time in the past or after setting up a new employee? If yes, then, in that case, the new tax table will not override any previously adjusted amounts. And thus, you have to update the TD1 amounts in the future manually.
- Have you set up any of your employees over the basic TD1 amounts? QuickBooks Desktop updates the TD1 amounts on its own only for those employees who have a basic amount for the previous tax tables.
Read also: How To Make And Record QuickBooks Journal Entry?
Need Help!
We hope the information provided in this blog would have helped you Install QuickBooks Payroll Tax Table Update. However, if you still come across any issue while updating the payroll, feel free to get in touch with our experts by placing a call on Asquare Cloud Hosting Helpline Number +1.855.738.0359. Our experts are available round the clock to help you fix all your queries.