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US Payroll Localization: FUTA Excess Balance Not Available After Balance Initialization (Doc ID 2413496.1)

Last updated on JUNE 21, 2018

Applies to:

Oracle Fusion Global Payroll Cloud Service - Version 11.13.18.02.0 and later
Information in this document applies to any platform.

Goal

FUTA Excess Balance Not available after Balance Initialization
We want to know the calculation logic for Excess.

We are in the process of converting Tax Balances from EBS (legacy) to Cloud.
In EBS, value for Excess balance was not found in the database, from UI it was concluded that Excess calculation is
Excess = Gross - PreTax - Taxable
We want a confirmation if this is correct?

Please confirm if these calculations are correct:
Reduced Subject Withholdable = Gross - PreTax
Excess = Gross - PreTax - Taxable
Exempt = Gross - Subject Withholdable

Solution

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