Does Payroll Mate support Colorado paid family payroll taxes?

Question

We are looking for payroll software that supports the new Colorado FAMLI program tax which starts on January 1, 2023.

 

The state website says that the premiums are set to 0.9% of the employee’s wage, with 0.45% paid by the employer and 0.45% paid by the employee. 

 

Does your Payroll Mate software support this new tax? 

 

Answer 1

Thank you for your question.

We have created a tutorial with step-by-step instructions on how to setup Colorado FAMLI payroll tax for both the employee and employer. See link below:

https://cdn.realtaxtools.com/docs/CO-FAMLI.pdf

This tutorial assumes the rate paid by the employee is 0.45%, you need to check with the state for the most recent rate. You also need to check the latest wage cap with the state (typically the same as the Federal Social Security Wage Cap).

Real Business Solutions Support Team, Makers of W2 Mate, 1095 Mate and Payroll Mate

support@realtaxtools.com