?IRS TABLE 7 for FWT ANNUAL PAYROLL PERIOD AS OF 1/2/09 (single person)
If the amount of wages after subtracting withholding allowances is:
The amount of income tax is:
Not over \$7,180                   \$0
Over        But not over                            Of excess over--
\$     7180        \$    10400         10%                            \$     7180
\$   10400        \$    36200         \$322 plus 15%        \$    10400
\$   36200        \$    66530         \$4192 plus 25%       \$   36200
\$   66530        \$  173600        \$11774.50 plus 28%  \$   66530
\$ 173600        \$  375000       \$41754.10 plus 33%   \$  173600
\$ 375000        \$ ......             \$108216.10 plus 35%     \$  375000

FUNDWARE TABLE 1 ON .FWT FOR SINGLE WITHHOLDING

DATE      ENTRY   MINIMUM   MAXIMUM   FLAT AMOUNT   RATE    XCS
1/02/2009    10           .00          7180.00               .00    .000000    N
1/02/2009    20   7180.00       10400.00                .00    .100000     Y
1/02/2009    30  10400.00       36200.00          322.00     .150000     Y
1/02/2009    40  36200.00      66530.00          4192.00    .250000     Y
1/02/2009    50  66530.00    173600.00       11774.50    .280000     Y
1/02/2009    60 173600.00   375000.00       41754.10    .330000     Y
1/02/2009    70 375000.00   999999.99     108216.10    .350000     Y

HOW FUNDWARE CALCULATES OFF THE TABLES.

The annual salary is calculated by multiplying the pay period pay x the
pay frequency. Before reaching a table , exemptions, pre-tax and marital are taken into account.

A pay period earning of \$3611.72 for a biweekly employee is annualized.
\$3611.72 X 26 = 93904.72.

Because they are single, it goes to the table above to line entry 50
as the annual earning is between 66530.00 and 173600.00.

\$  93904.72  Annual earning
- 66530.00 (maximum amount on the previous line 40)
__________
\$  27374.72
X       .28  (rate on line 50)
_________
7664.92
+  11774.50  Flat amount
__________
\$  19439.42  Annual fwt tax.
\        26  Biweekly
_________
\$    747.67  Amount of FWT for pay period

If you look between the IRS table and the Fundware tables you can see how they calculate
the same way.