Idaho_Child_Tax_Credit_Allowance_Table_Updating_tax_rate_2024_2024.05_

Idaho Child Tax Credit Allowance Table - Updating tax rate - 2024 (2024.05)

Issue

The state of Idaho updated the child tax credit allowance with a new tax rate in 2024. I need to update payroll to calculate the Idaho state withholding correctly. 

 

Explanation

The state income tax withholding tables were updated for 2024 due to a law change that lowered the tax rates. This includes updating the Idaho Child Tax Credit Allowance Table to reflect the lower rates. You don't need to adjust withholding back to the beginning of the year, but you should use the revised tables going forward. 

 

Idaho State Tax Commission:

  • Withholding tables updated for 2024 [More]

  • Idaho Child Tax Credit Allowance Table [More]

 

Solution

To update the state income tax withholding table, run Update Calculations

 

1. Back up the Payroll database. (System Management > System Tools > Send Databases)

2. Open Connect Payroll > Organization > Update Calculations. 

3. Set up the following options. 

 

Update Calculations 

 

Print: Select Report or No Report. 

Federal options: Skip this section. 

State: Select ID.

Add required state calculations: Select this checkbox. 

Update state calculation formulas: Select this checkbox. 

Update selected state calculation tables: Select this checkbox. 

ID SWT - Married: Select this checkbox.

ID SWT - Single: Select this checkbox.

 

 

 

4. Click GO  (CTRL+G). 

 

To verify the new state income tax withholding rates, open Organization > Calculation Tables and use the withholding tax table from the Idaho State Tax Commission. 

 

 

 

 

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