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Sage 50 US: Announcing the 2nd January 2021 Tax Update for Release 2020 and 2021

What's New

State and Local Tax Changes

  1. California State Disability Insurance
    The 2021 withholding rate and wage limit changed.
  2. Illinois State Income Tax
    The 2021 standard deduction amount changed.
  3. Michigan State Income Tax
    The 2021 standard deduction amount changed.
  4. Minnesota State Income Tax
    The 2021 withholding tables and standard deduction amount changed.
  5. Mississippi State Income Tax
    The 2021 withholding tables changed.
  6. New Jersey Family Leave Insurance
    The 2021 limit and rate changed.
  7. North Dakota State Income Tax
    The 2021 withholding tables changed for pre 2020 W-4 forms and new withholding tables were added to support post 2020 W-4 forms.
  8. New Mexico State Income Tax
    The 2021 withholding tables changed and adjustments due to withholding allowances on pre 2020 W-4 forms are no longer being taken.
  9. Oregon State Income Tax
    The 2021 withholding tables and standard deduction amount changed.
  10. Rhode Island State Income Tax and State Disability Insurance
    The 2021 withholding tables and limits changed.
  11. Vermont State Income Tax
    The 2021 withholding tables and allowances changed.

For additional information, please review the release notes that open after installing your tax update.

Making Sure Your Tax Update is Applied

This update will be sent to you automatically through your product. The version for this tax update is 20210103 for release 2020, 2021.0, 2021.1, and 20210104 for release 2021.1.1. Follow these steps to make sure that your tax update was applied:

  1. Open your Sage 50 company
  2. Select Help > About Sage 50 Accounting
  3. Confirm that the installed Tax Update version number matches the version number listed above
  4. If your Installed Tax Update version number does not match:
    1. Select ServicesCheck for Updates > Check Now
    2. If multiple updates appear, select the update(s) you want to install, then select Download
    3. After the download is finished, exit Sage 50 and the update will begin

Need help closing the year?

Visit Sage.com/Resources for options, including links to Sage Year-end Center, Sage Knowledgebase, Sage City, and Sage University, as well as Sage Q&A Live, Chat, and Online Case submission.

Questions? To start (or join) a discussion about this topic, please visit the Sage 50 discussion forums.