FEDERAL INCOME TAX TABLES – No Change from June 2003
Extractions from the Federal Income Tax Tables for 2004 are provided for the Percentage Method of Withholding and the equivalent Wage Bracket withholding. The actual taxes withheld by the Statewide Payroll System are precise and will vary slightly from the results shown by these tables.
Federal tax tables were adjusted in June 2003 to rates, which continue through 2004. The annual personal exemption amount of $3,100.00 that also became effective in June 2003 continues through 2004 also.
Employees have the option to access the state web site, fill in basic information from a pay stub, and the Net Pay Calculator will immediately provide tax estimates and the net pay effect. To access the Net Pay Calculator, Click on {http://compnet.comp.state.md.us}
If needed, the complete Federal Income Tax Tables for 2004, can be accessed from the web site by clicking on Payroll Officers News and Information
2004 Federal Withholding Tables
University employees should contact the Payroll Office at 4-5119 with any questions regarding this information.
