Do I have to pay Oregon transit tax?
As the employer, you do not pay the Oregon transit tax. You are only responsible for withholding, reporting, and remitting withheld taxes to the state government. The statewide Oregon transit tax goes to the Statewide Transportation Improvement Fund.
Who is subject to Oregon transit tax?
Oregon residents
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 State transit tax?
There are some organizations whose payroll is exempt from transit payroll tax (e.g. federal credit unions, 501(c)(3) nonprofit and tax-exempt institutions, etc.). However, every employer must deduct, withhold, report, and remit the new Statewide Transit Tax to the Department. — Nonresident employers.
How many local taxes are related to transit in Oregon?
6 local transit taxes
Oregon has 6 local transit taxes paid by the employer based on the employee work location. An employee may have multiple tax codes assigned.
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.
What is the Oregon statewide transit tax rate for 2021?
Employers pay 0.7937% (up from 0.7837% in 2021) of the wages paid by an employer and the net earnings from self-employment for services performed within the TriMet District boundary. More information is available here. Lane Transit District (LTD).
Can I deduct Oregon transit tax?
The Oregon State Transit Tax (STI) withholding is NOT deductible on the Oregon state tax return and cannot be claimed on Oregon Schedule OR-A as it is an Oregon income tax.
What is Oregon statewide transit tax 2022?
0.1%
The Oregon statewide transit tax rate remains at 0.1% in 2022. The state transit tax is withheld on employee wages via tax code ORTRN.
What is the Oregon transit tax 2022?
The Oregon statewide transit tax rate remains at 0.1% in 2022. The state transit tax is withheld on employee wages via tax code ORTRN.
Is Oregon transit tax deductible on federal return?
How do I report Oregon transit tax on my W-2?
Oregon employers required to report statewide transit tax on Form W-2 for calendar year 2019. 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).
How is the Oregon transit tax calculated?
Wages of Oregon residents (regardless of where the work is performed). Wages of nonresidents who perform services in Oregon. The statewide transit tax is calculated based on the employee’s wages as defined in ORS 316.162.
Who is responsible for paying the transit tax?
The statewide transit tax is imposed on the wages of each employee, but the employer is responsible for withholding, reporting, and remitting the statewide transit tax.
Do I have to report my transit tax withholding?
Even if the amount of statewide transit tax withholding is minimal, you still need to file the return and remit the amount of tax withheld each quarter (unless you’re an annual filer). Agricultural employers can report and remit the statewide transit tax on either a quarterly or annual basis.
When do I have to report and remit the transit tax?
Agricultural employers can report and remit the statewide transit tax on either a quarterly or annual basis. If you’re an annual filer, you must remit and report the statewide transit tax by the last day of the month following the end of the calendar year, or January 31. Annual reconciliation reports are also due by January 31.