?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.