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Idaho State Tax Commission (STC) Withholding Tables & Annual Tax Credit Update
July 26, 2021The Idaho State Tax Commission (STC) has released a revised Table for Percentage Computation Method of Withholding and Table for Wage Bracket Method of Withholding.
Alert
At a Glance
- The Idaho State Tax Commission (STC) has released a revised Table for Percentage Computation Method of Withholding and Table for Wage Bracket Method of Withholding.
- Employers are not required to adjust withholding back to the beginning of the year but should use revised tables moving forward.
Withholding Update
The Idaho State Tax Commission (STC) has released a revised Table for Percentage Computation Method of Withholding and Table for Wage Bracket Method of Withholding. The tables adjust wage brackets and withholding tax rates, retroactively effective January 1, 2021, as provided under L. 2021, H380. Employers are not required to adjust withholding back to the beginning of the year but should use revised tables moving forward. Wage brackets have been reduced from seven to five. Rates range from 1% to 6.5% (previously, 1.125% to 6.925%).
The state annual allowance is $3,154.
Next Steps
Paylocity is closely monitoring this agency and will provide updates as they become available. Thank you for choosing Paylocity as your Payroll Tax and HCM partner.
This information is provided as a courtesy, it may change, and is not intended as legal or tax guidance. Employers with questions or concerns outside the scope of a Payroll Service Provider are encouraged to seek the advice of a qualified CPA, Tax Attorney or Advisor.
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