Tax changes mean substantial paycheck boost for Boone County employees
COLUMBIA - Changes in the payroll for Boone County employees went into effect Friday based on President Trump's tax reform measure.
County Clerk Taylor Burks said he was updating the payroll system for 2018 when he noticed some variations that would positively effect county employees.
"We just received IRS guidelines a couple of weeks ago for the new tax code changes, so we implemented them," Burks said. "Boone County employees will see those changes in their paycheck today."
For the average Boone County employee, Burks said, paychecks will be $75.27 more than it was two weeks ago.
"I think it's great," Account Specialist Julie Coleman said. "Personally, I haven't had the opportunity to check mine, what the variation is, but every little bit helps."
Burks said the changes in the IRS guidelines were a result of new tax rates and deductibles from the federal government. The changes affected employers and their payroll withholding systems.
Burks informed county staff earlier this week.
"I think that being transparent and open with our employees is the right thing to do as County Clerk," Burks said. "So I hope Boone County staff appreciate us communicating with them what they're seeing in their paychecks."
Burks talked about the paycheck increase in a Facebook post on his campaign page. He said the average deputy clerk, making $35,241 annually, will take home an extra $1,480.90 in 2018.
"I think it's going to be good for the economy," Coleman said. "Everybody, if they have a little bit more in their pocket, they're going to spend a little bit more, and hopefully they're going to keep it local."
In total, because of the new payroll, Boone County employees will make an additional $949,154 this year, Burks said.
"I don't have any plan other than to let employees know why their payroll's gone up," Burks said. "That was the purpose of us communicating with our staff here, was to be transparent."
Burks declined to comment on how he thought this increase would effect the economy.
"What I'm talking about is solely what Boone County employees are going to see, and that's more money in their pockets," Burks said.
Coleman, however, said she doesn't see any potential negative effects of the increase.
"Anything that will boost the economy," Coleman said. "You know if it's so much extra per week in everybody's paycheck, that's going to help local businesses. So sure, that's a good thing. Tax cuts are always good."