What is the Oregon transit tax rate for 2021?
0.7837%
Taxes that provide operating revenue for TriMet are administered and collected by the Oregon Department of Revenue. Effective January 1, 2021, the tax rate increased to 0.7837% of the wages paid by an employer and the net earnings from self-employment for services performed within the TriMet District boundary.
Who is subject to Oregon statewide transit tax?
The Oregon transit tax is a statewide payroll tax that employers withhold from employee wages. Oregon employers must withhold 0.1% (0.001) from each employee’s gross pay. Withhold the state transit tax from Oregon residents and nonresidents who perform services in Oregon.
What is the Oregon withholding tax rate?
Withholding Formula (Effective Pay Period 08, 2021)
| If the Amount of Taxable Income Is: | The Amount of Tax Withholding Should Be: |
|---|---|
| Over $0 but not over $3,650 | $213.00 plus 4.75% |
| Over $3,650 but not over $9,200 | $386.00 plus 6.75% of excess over $3,650 |
| Over $9,200 | $761.00 plus 8.75% of excess over $9,200 |
How is the Oregon transit tax calculated?
The statewide transit tax is calculated based on the employee’s wages as defined in ORS 316.162. Employees who aren’t subject to regular income tax withholding due to high exemptions, wages below the threshold for income tax withholding, or other factors are subject to statewide transit tax withholding.
Can I deduct Oregon transit tax?
Examples of taxes you can’t deduct Oregon statewide transit tax. Federal income tax.
How is Oregon statewide transit tax calculated?
What is or STT WH on my w2?
Recently promulgated Oregon Department of Revenue regulations require employers to report the statewide transit tax in Box 14 of Form W-2, with the designation “ORSTT W/H” (for example, ORSTT W/H – $15.00).
What is the Oregon income tax rate for 2020?
Oregon state income tax rate table for the 2020 – 2021 filing season has four income tax brackets with OR tax rates of 4.75%, 6.75%, 8.75% and 9.9% for Single, Married Filing Jointly, Married Filing Separately, and Head of Household statuses. The lower three Oregon tax rates decreased from last year.
What percentage of paycheck goes to taxes in Oregon?
Together, these two make up the FICA taxes. Social Security tax is withheld at 6.2% and Medicare tax at 1.45% of your wages….Income Tax Brackets.
| Single Filers | |
|---|---|
| Oregon Taxable Income | Rate |
| $0 – $3,600 | 4.75% |
| $3,600 – $9,050 | 6.75% |
What is the Oregon statewide transit tax rate?
1 percent
On July 1, 2018, employers must start withholding the statewide transit tax —which is one-tenth of 1 percent—from: Wages of Oregon residents (regardless of where the work is performed). Wages of nonresidents who perform services in Oregon.
Who is exempt from Oregon transit tax?
All wages paid for domestic service described in 316.162 (Definitions for ORS 316.162 to 316.221)(c) are exempt from withholding and transit payroll tax.
What is the Oregon transit tax used for?
Statewide Transportation Improvement Fund
Revenue from the statewide transit tax will go into the Statewide Transportation Improvement Fund to finance investments and improvements in public transportation services, except for those involving light rail. For more information, see our frequently asked questions. Enter “statewide transit” in the search bar.
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