What's New

Federal Tax Changes

• Federal Income Tax Withholding 
  The 2023 withholding tax tables changed. As a result of changes to the W-4 form in 2020, revised filing statuses are available, in addition to filing statuses from 2019 and years prior for employees who have not revised their existing withholding elections.
  Review Payroll tax year 2020 W-4s for additional information.

State Tax and Paid Family Leave Changes

• Connecticut Paid Family Leave
  Wage base change. 

• Illinois State Income Tax
  Withholding and contribution rate changes. 

• Indiana State Income Tax
  Withholding and contribution rate changes. 

• Maryland State Income Tax
  Withholding table and standard deduction changes.

• Michigan State Income Tax
  Personal exemption amount change. 

• North Carolina State Income Tax
  Annualized tax percentage change. 

• North Dakota State Income Tax
  Withholding table changes. 

• Oregon State Income Tax
  Withholding table and Standard deduction changes. 

• Rhode Island State Income Tax
  Withholding table and Annual exemption wage limit changes. 

• Rhode Island Temporary Disability Insurance
  Taxable wage base change. 

• Vermont State Income Tax
  Withholding table and Allowance change.

• Washington Paid Family Leave
  Wage base and contribution rate changes.

For additional information, see Sage Knowledgebase article: 2^nd January 2023 Tax Update Bulletin.  

Is your tax update applied?

You will receive this update automatically through your product. The version for this tax update is 20230102 for releases 2022 and 2023. 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 version number 20230102.
4. If your Installed Tax Update version number does not match:
   1. Select Services> Check 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 Chat and Online Case submission.

You can also join us online at Sage Q&A Live to get quick answers to your questions. Enter your name and email address, click Join Webinar in Progress, and ask your question(s).

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