We are excited to announce that a new payroll tax update for Sage 50—U.S. Edition version 2024.0 and 2024.0.1 is available starting on January 9, 2025. This update includes Federal and State Tax changes.
Download and install
When you shut down your software, you will be notified that an update is ready to install once it is automatically sent to you. The version for this tax update is 20250102. Follow these steps to make sure your payroll tax update has been applied:
- Open your Sage 50 company.
- Select Help > About Sage 50 Accounting.
- Confirm that the installed Tax Update version number matches version number 20250102.
If you are not automatically prompted to install this update, see Sage Knowledgebase article How to install payroll updates.
What's New
Federal Tax changes:
- Federal Income Tax (FIT) Withholding
Final changes to the 2025 FIT withholding tax tables.
State Tax changes:
- Alabama State Income Tax: Overtime Exemption formula name changed from ALSIT to ALSITT.
The following states also had changes to state unemployment wage limits: Idaho, Michigan, Minnesota.
For additional information, see Sage Knowledgebase article 2nd January 2025 Tax Update Bulletin.
Thank you for being a part of the Sage 50 community. If you have any questions or need assistance with the update, please start a discussion in the Sage 50 US General Discussion forum in Community Hub.
Need help closing the year?
Visit Sage.com/Resources for options, including links to Sage Year-end Center, Sage Knowledgebase, Community Hub, Sage University, and Chat. In addition, check out our year-end webinar recordings and slides.