Oregon’s 2024 withholding formula was released by the state revenue department.
The standard deduction used in the withholding formulas increased to $2,745, up from $2,605, for single employees claiming less than three allowances. It rose to $5,495, from $5,210, for single employees claiming at least three allowances and all married employees. The value of a state allowance increased to $249, from $236.
The maximum amount of withheld federal income tax that can be subtracted from wages increased to $8,250, from $7,800.
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