Who is eligible for this Product and Payroll update?

This Product & Payroll Update is only available to MYOB Complete Support members.

Who is eligible for the Product Update?

This Product Update is available to all registered users of AccountEdge Network Edition 2008, AccountEdge 2008 and Premier Accounting 2008

What are the program changes in this update?

Windows Update Release 12.0.5

Premier Accounting

• February Tax Tables
• Product Update

Mac Updates Release 12.0.6

Accountedge

• February Tax Tables
• Update for Microsoft Office 2008 users.

Accountedge Network Edition

• February Tax Tables
• Update for Microsoft Office 2008 Users
• Fileconnect Update

This update includes federal and state payroll changes that were made available to us as of January 31, 2008. This update is recommended for any business using MYOB software to process their payroll.

Federal - 2008 railroad retirement tax rates for Tier II employees are 3.9% and 12.1% respectively. The taxable earnings base for Tier I retirees will be $102,000 in 2008 (previously $97,500). The taxable earnings base for Tier II retirees will be $75,900 (previously $72,600). The COLA for Tier II benefits is 0.7% for 2008.

• Connecticut- Changes to the withholding tables for wages.
  
  
• Idaho- SUI taxable wage base increased to $32,200 (previously $30,200).
  
  
• Illinois- SUI taxable wage base increased to 12,000 (previously $11,500)
  
  
• Kentucky – Wage bracket tables increase standard deduction to $21,000.
  
  
• Maryland- Filing status has changed from on status to two separate filing statuses – Married (HOH, Married filing Jointly) and Single (Single and Married filing Separately)
  
  
• Massachusetts- New wage-bracket and percentage method withholding tables for wages. Minnesota- SUI taxable wage base increased to $25,000 (previously $24,000)
  
  
• Missouri – Income Tax withholding tables have changed.
  
  
• New Jersey- Wage base for SUI, DI, Workforce and Healthcare are raised to $27,700 (previously $26,600).
  
  
• North Carolina- Wage base increased to $18,600 (previously $$17,800)
  
  
• Ohio- New Municipal Tax Rate of .35%.
  
  
• Oklahoma- Changes to wage-bracket and withholding tables for wages.
  
  
• Oregon – SUI taxable wage base increased to $30200 (previously$29,000).
  
  
• Puerto Rico – New withholding tables for wages.
  
  
• Rhode Island- Withholding allowance has increased to $3,500. TDI taxable wage base is $54,000.
  
  
• South Dakota- SUI wage base increased to $9,000 (previously $8,500).
  
  
• Utah- SUI taxable wage base increased to $26,700 (previously $25,400). Virgin Islands- Unemployment Wage base increased to $21,800.
  
  
• Washington DC- Withholding allowance increased to $1,675.

Click here to log in to the MYOB Store to download the updates. Once you have logged in, just click on the "Updates" tab.