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POLICY 05:08:00

TAXES AND DEDUCTIONS

The following taxes and deductions may apply to monthly payroll checks:

  1. Withholding tax – In accordance with declared Internal Revenue Service guidelines based upon employee’s earnings and the number of exemptions in the Internal Revenue Service W-4 statement, federal income tax is withheld. This tax is shown on your check stub under Deductions as Fed Tax
  2. Social Security Tax – Pellissippi State matches the tax paid by the employee.
    This tax is shown on your check stub under Deductions as FICA SS (6.2%) and FICA-Med (1.45%).
  3. Deductions – A list of other voluntary deductions is available from the Human Resources office and the Payroll office.
    In accordance with Social Security Administration Guidelines, Social Security and Medicare Taxes will be withheld from your paycheck.

 

Approved: Executive Council, March 4, 1991
Editorial Changes, May 24, 1993
Approved: President Allen G. Edwards, February 4, 2002
Approved: President’s Staff, March 26, 2007
Approved: President Allen G. Edwards, March 26, 2007
Reviewed/Recommended, no changes, President’s Council, November 25, 2013
Approved: President L. Anthony Wise, Jr., November 25, 2013
Reviewed/Recommended, no changes, President’s Council, March 4, 2019
Approved: President L. Anthony Wise, Jr., March 4, 2019