A “First of its Kind” PFML Plan launches in New Hampshire
Beginning in December 2022, employers can start enrolling in New Hampshire's new voluntary Paid Family and Medical Leave plan for employers and employees of all types of businesses.
The Latest and Greatest: The Symmetry Tax Engine 2
We are pleased to introduce to you the latest in payroll tax withholding innovation: The Symmetry Tax Engine 2
It was more than ten years ago when we released the first version of the tax engine. Since then, we have successfully provided reliable and accurate tax withholding software to hundreds of customers. This year we are excited to introduce you to our newest version: The Symmetry Tax Engine 2. The new tax engine is the most robust, intuitive, and accurate product we have built in our history. It is the gold standard in payroll tax withholding software, and essential to your gross-to-net calculation needs.
The Symmetry Tax Engine 2 accounts for federal, FICA, state, local, multi-state, employer taxes and various other payroll-related withholdings. A vital component of any payroll process, the STE2 saves resources and research time by ensuring you get the right taxes, the first time.
To guarantee accurate tax calculations, the Symmetry Tax Engine 2 uses geocoding technology. After determining the latitude and longitude of home and work addresses and placing these locations within tax jurisdiction boundary shapefiles, the Location Code Service returns to your application the location codes, IDs, coordinates, and accuracy values used by the tax engine to be added to the employee record for calculating payroll taxes. Reciprocity and nexus settings are applied during this transaction.
The Symmetry Tax Engine 2 also introduces more flexibility for implementation as well as additional features, including options for a web-hosted API or on-premise software development kit.
With either version you get the same great engine, the difference is where it's housed and who does the testing and updating.
- No storage of personal data
- Doesn't restrict calculation sizes, handling figures up to 15 digits.
- Lightning fast. In benchmark testing, it ran at an average of 1.97 milliseconds per calculation.
- The scripting language and design of the tax engine lend itself to efficient processing. The internal testing routine performs over 150,000 calculations in less than 5 minutes on a Pentium D server unit.
Millions of paychecks are written every week using the Symmetry Tax Engine. Our clients include Kindly Care, Inc., Zenefits, Empact (Bond International), Prism HR, Inc., and Anthem, Inc. Our clients also include payroll powerhouses like Namely, Sync HR and more.
Learn more on how Anthem’s manual processes were completely eliminated by using the Symmetry Tax Engine.
Contact us today at sales@symmetry.com to set up a free 30 day trial of the Symmetry Tax Engine 2.
To learn more about tax engines and how they work, check out some of our articles below:
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