Tax Threshold formula

Hi All,

I am trying to find calculate total people cost and as such need to get exact payroll tax per employee and need help please.

Based on attached table, payroll tax threshold is $678,000 per year, i.e. a employer is subject to payroll tax over and above this amount.
Payroll tax rate is 5.45%.

Employer is also subject to workers comp, but that's got no relevence to this question.

I understand employer is subject to the difference of threshold and gross, i.e. $90,450 ($768,450-$678,000), but can't work out actual payroll tax amount per employee.

Any guidence would be highly appreciated. We have over 500 employees on payroll.

Many thanks
Raj

Hi Raj and welcome to the forum.

See if the attached calculates what you need.