Oregon DOR Issues Guidance on Withholding Tax Formulas Effective Jan. 1, 2022

The Oregon Department of Revenue (DOR) Dec. 1 issued guidance on withholding tax formulas, effective Jan. 1, 2022, for individual income and corporate income tax purposes. The DOR provides: 1) the employer update for Oregon-only W-4 pursuant to the withholding changes effected by the federal Tax Cuts and Jobs Act; 2) the alternative withholding method for supplemental wage payments; 3) the due dates for withholding payments, which are the same as the due dates for depositing taxpayers’ federal tax liabilities; 4) formulas for calculating withholding amounts; and 5) frequently asked questions about the withholding computer formula. The DOR also includes ...