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TKT Payroll Software

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Oregon

For proper Oregon tax withholding, the Annual Standard Deduction Amount must be entered in the next to last field in each employee's record. The Annual Tax Credit Amount must be entered in the last field in each employee's record.

The 2017
Annual Standard Deduction Amount and Annual Tax Credit Amount can be found for Oregon at the website shown below:

https://www.oregon.gov/DOR/forms/FormsPubs/withholding-tax-formulas_206-436_2017.pdf

Shown below are the
Annual Standard Deduction amounts for 2017:

Single - $2175
Married - $4350

The
Annual Tax Credit amount is $197 for 2017.

The employee deduction for the Oregon Worker's Benefit Fund is unique, because the employee contribution is calculated as a rate per hour. The TKT Payroll 3rd Miscellaneous Deduction should be used for deductions that are caculated by a rate times total hours worked ( ie. Oregon Worker's Benefit Fund). The deduction can be switched to calculate times hours by selecting "Utilities" on the main menu bar. Click "Review Installed Settings" and change the 3rd Deduction Title in the lower left corner to "WBF". Check the yellow box below the 3rd Deduction Title. Click the "Save Changes" button.

The
2017 WBF assessment rate is $ .028/Hr. The worker's/employee's portion is only 1/2 ( $ .014/Hr ) of the assessment rate. Each pay period, the employee withholding amount is calculated by multiplying the deduction rate of $ .014 times the actual number of hours each employee works. When you setup each new Employee Record, the employee's payroll deduction rate of .014 should be entered in the box to the right of the "Deduction for WBF".