Tax rate used in calculating Oregon state tax for year 2014

Withholding Formula >(Oregon Effective 2014)<

1. Subtract the nontaxable biweekly Thrift Savings Plan contribution from the gross biweekly wages.
   
   

2. Subtract the nontaxable biweekly Federal Health Benefits Plan payment(s) (includes dental and vision insurance program, and flexible spending account - health care and dependent care deductions) from the amount computed in step 1.
   
   

3. Add the taxable biweekly fringe benefits (taxable life insurance, etc.) to the amount computed in step 2 to obtain the adjusted gross biweekly wages.
   
   

4. Multiply the adjusted gross biweekly wages times 26 to obtain the gross annual wages.

5. Subtract the employee’s annualized Federal withholding tax from annualized gross pay to determine annualized taxable wages. The annualized Federal withholding tax to be deducted cannot exceed the maximum amount shown in the following table based on marital status and the annualized gross pay calculated in Step 4.

Tax Withholding Table Single (Regardless of the Number of Exemptions)
If the Amount of Taxable Income Is:		The Maximum Federal Deduction Amount Is:
Over:	But Not Over:
$         0	$   125,000	$      6,350
125,000	130,000	5,050
130,000	135,000	3,800
135,000	140,000	2,500
140,000	145,000	1,250
145,000	and over	0





Tax Withholding Table Married (Regardless of the Number of Exemptions)
If the Amount of Taxable Income Is:		The Maximum Federal Deduction Amount Is:
Over:	But Not Over:
$         0	$   250,000	$      6,350
250,000	260,000	5,050
260,000	270,000	3,800
270,000	280,000	2,500
280,000	290,000	1,250
290,000	and over	0





6. Determine the standard deduction allowance by applying the following guideline and subtract this amount from the annual wages.

If the Employee is:	The Standard Deduction is:
Single claiming less than 3 exemptions	>$2,115
Single claiming 3 or more exemptions	$4,230
Married	$4,230<

7. If the employee’s annualized gross wages calculated in Step 4 are less than $50,000, calculate the annual tax amount on the adjusted taxable wages using one of the tables below:
   

Tax Withholding Table Married or Single (With Three or More Exemptions)
If the Amount of Taxable Income Is:		The Amount of Oregon Tax Withholding Should Be:
Over:	But Not Over:				Of Excess Over:
$         0	$   6,600	$191	plus	5%	$      0
6,600	16,500	521	plus	7%	6,600
16,500	and over	1,214	plus	9%	16,500





Single (With Less Than Three Exemptions)
If the Amount of Taxable Income Is:		The Amount of Oregon Tax Withholding Should Be:
Over:	But Not Over:				Of Excess Over:
$        0	$       3,300	$   191	plus	5%	$      0
3,300	8,250	356	plus	7%	3,300
8,250	and over	703	plus	9%	8,250



8. If the employee’s annualized gross wages calculated in Step 4 are $50,000 or more, calculate the annual tax amount on the adjusted taxable wages using one of the tables below:
   

Tax Withholding Table Married or Single (With Three or More Exemptions)
If the Amount of Taxable Income Is:		The Amount of Oregon Tax Withholding Should Be:
Over:	But Not Over:				Of Excess Over:
$         0	$   39,420	$0	plus	0%	$      0
39,420	250,000	1,023	plus	9%	39,420
250,000	and over	22,038	plus	9.9%	250,000





Single (With Less Than Three Exemptions)
If the Amount of Taxable Income Is:		The Amount of Oregon Tax Withholding Should Be:
Over:	But Not Over:				Of Excess Over:
$        0	$       41,535	$   0	plus	0%	$      0
41,535	125,000	512	plus	9%	41,535
125,000	and over	11,019	plus	9.9%	125,000



9. Multiply the number of exemptions by $191 and subtract from the annual tax calculated above to obtain the annual Oregon tax withholding.
   
10. Divide the annual Oregon tax withholding by 26 to obtain the biweekly Oregon tax withholding.<