Update Tax Table

Each year the tax rates change based on federal and state legislation and it is necessary to update the tax table in order to calculate the correct payroll withholdings for the new calendar year.   The tax table update is a two step process.  The new tax table must be obtained and then applied to your farm database.  The process will preserve any percentages that you entered for farm utility or farm automobile percentages. 

1)   Backup your database by clicking File: Backup and completing the steps of the backup.

2)   Click Utilities: Update Tax Table.

3)   The Update Tax Table Wizard will open.  Select Download via Internet Connection or Previous Download (if obtained from www.farmbooksaccounting.com) and click Next.

4)   Select a farm by clicking the check box, and then click Next to update the tax table. 

5)   Click OK to close the information box, then click Done to complete the update.