"Garnishment Formula for Wage Levy" - Montana

"Garnishment Formula for Wage Levy" - Montana Download Pdf
Download pdf Fill PDF online

Garnishment Formula for Wage Levy is a legal document that was released by the Montana Department of Revenue - a government authority operating within Montana.

Form Details:

  • The latest edition currently provided by the Montana Department of Revenue;
  • Ready to use and print;
  • Easy to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of the form by clicking the link below or browse more documents and templates provided by the Montana Department of Revenue.

ADVERTISEMENT
ADVERTISEMENT

Download "Garnishment Formula for Wage Levy" - Montana

518 times
Rate (4.8 / 5) 26 votes
Show Pagination
CLEAR FORM
Garnishment Formula for Wage Levy
Federal Consumer Credit Protection Act, Title III (15 USC Sections 1671-1677), and Montana
Statute (25-13-614, MCA) provides exemptions from garnishment.
Definitions:
• Earnings: Compensation for personal services, whether called wages, salary,
commissions, or bonuses, and payments to pension or retirement program.
• Disposable Income: Earnings remaining after (tax) deductions required by law
(Federal and State taxes, FICA, etc.)
• Garnishment: Any legal or equitable procedure by which the earnings of an individual
are required to be withheld for payment of a debt.
Computation of Garnishment Amount
1.
_________________ Enter total earnings
(-) _________________ Deduct federal withholding
(-) _________________ Deduct state withholding
(-) _________________ Deduct FICA, Federal Disability and Medicare
2. (=) _________________ Disposable income
3.
_________________ Enter 25% (0.25) of line 2
4. (-) _________________ Deduct any previously received garnishment amount, including
child support and IRS levies.
5.
_________________ Line 3 minus line 4
6.
_________________ Disposable income (from line 2)
7. (-) _________________ Deduct amount from drop down option based on pay schedule
Use: ($0.00 if no wages)
($217.50 if paid weekly)
($435.00 if paid bi-weekly)
($471.25 if paid semi-monthly)
($942.50 if paid monthly)
($2,827.50 if paid quarterly)
8.
_________________ Line 6 minus line 7
The amount to be garnished is the lesser of line 5 or line 8 for each pay period. If either line 5 or
line 8 is zero or less, send no money and return the levy notice to the department with a note of
explanation.
The maximum amount to be garnished is the lesser of:
• 25% of disposable income for each pay period, or
• the amount of disposable earnings for that pay period which exceed 30 times the federal
minimum hourly wage (currently $7.25 per hour). 29 USC Sec. 206(a)(1).
Mail a copy of the completed form with your remittance, if applicable, or any other necessary
information to Montana Department of Revenue, PO Box 6309, Helena, MT 59624-6309.
Please retain a copy of this form for your records.
Employee Name: ____________________________________________________
Employee ID#: _________________________
CLEAR FORM
Garnishment Formula for Wage Levy
Federal Consumer Credit Protection Act, Title III (15 USC Sections 1671-1677), and Montana
Statute (25-13-614, MCA) provides exemptions from garnishment.
Definitions:
• Earnings: Compensation for personal services, whether called wages, salary,
commissions, or bonuses, and payments to pension or retirement program.
• Disposable Income: Earnings remaining after (tax) deductions required by law
(Federal and State taxes, FICA, etc.)
• Garnishment: Any legal or equitable procedure by which the earnings of an individual
are required to be withheld for payment of a debt.
Computation of Garnishment Amount
1.
_________________ Enter total earnings
(-) _________________ Deduct federal withholding
(-) _________________ Deduct state withholding
(-) _________________ Deduct FICA, Federal Disability and Medicare
2. (=) _________________ Disposable income
3.
_________________ Enter 25% (0.25) of line 2
4. (-) _________________ Deduct any previously received garnishment amount, including
child support and IRS levies.
5.
_________________ Line 3 minus line 4
6.
_________________ Disposable income (from line 2)
7. (-) _________________ Deduct amount from drop down option based on pay schedule
Use: ($0.00 if no wages)
($217.50 if paid weekly)
($435.00 if paid bi-weekly)
($471.25 if paid semi-monthly)
($942.50 if paid monthly)
($2,827.50 if paid quarterly)
8.
_________________ Line 6 minus line 7
The amount to be garnished is the lesser of line 5 or line 8 for each pay period. If either line 5 or
line 8 is zero or less, send no money and return the levy notice to the department with a note of
explanation.
The maximum amount to be garnished is the lesser of:
• 25% of disposable income for each pay period, or
• the amount of disposable earnings for that pay period which exceed 30 times the federal
minimum hourly wage (currently $7.25 per hour). 29 USC Sec. 206(a)(1).
Mail a copy of the completed form with your remittance, if applicable, or any other necessary
information to Montana Department of Revenue, PO Box 6309, Helena, MT 59624-6309.
Please retain a copy of this form for your records.
Employee Name: ____________________________________________________
Employee ID#: _________________________
Montana Department of Revenue Montana Legal Forms United States Legal Forms

Popular Articles

Most popular documents

Featured Tags

Bill of Sale U.S. Department of Veterans Affairs United States Army Vehicle Bill of Sale U.S. Department of Defense Boat Bill of Sale Firearm Bill of Sale Generic Bill of Sale Cover Letter Template Resume Templates U.S. Department of the Treasury - Internal Revenue Service BMI Chart Resignation Letter Template Multiplication Chart Graph Paper
"Garnishment Formula for Wage Levy" - Montana Download Pdf
Download pdf Fill PDF online

Related forms

Most popular documents

Related Documents

Popular Articles