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Forums Human Capital Management Lawson S3 HR/Payroll/Benefits

BSI 10 and Non-Qualified Deferred Comp

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Jason Beard
Veteran Member
Posts: 124
Veteran Member
12/16/2014 7:48 PM

    We've noticed an inconsistency in the calculation of state taxable wages for those employees electing to defer a portion of their pay check.

    Here's an example, 

    Gross wages 3,771.46

    Deferred 98.11-

    Remaining GW 3575.24

    401K pre-tax of 427.6

    Med/Dental 156.15

     

    BSI 9 calculates NJ Taxable wages at 3147.64 which is equal to wages less deferred less 401

    BSI 10.e.1 calculates NJ Taxable wages at 3159.06  Which doesn't appear to equate to anything...

     

    Anyone else experiencing similar issues?  We are seeing the same issue in MA taxable wages as well.

    Jason Beard
    617-548-5568
    jabeard3@gmail.com
    Beate Hughes-Brown
    Advanced Member
    Posts: 30
    Advanced Member
    12/16/2014 7:56 PM

      We have a list of states where the taxable wage is no showing correctly.  We've noticed VA, IN, KY, PA, DC, the list goes on. 

      Our payroll manager called the state of VA to determine whether BSI9 or BSI10 is correct and VA confirmed BSI9 is handling the reporting correctly.  BSI disagrees.

      Jason Beard
      Veteran Member
      Posts: 124
      Veteran Member
      12/16/2014 8:00 PM
        Thanks for the info. Is this only with a deferred comp plan or are you finding other variables that are affecting state taxable wages?
        Jason Beard
        617-548-5568
        jabeard3@gmail.com
        Marsele
        New Member
        Posts: 1
        New Member
        1/5/2017 3:51 PM
          Hi. Our Deferred Comp is reducing FED/STATE taxable wages but it is also reducing FICA Taxable wages. Per our attorney DEF COMP should NOT reduce FICA. We are using a benefit plan as well as the Tax Status 409(a).

          Any thoughts?