This is a copy of the information that we sent to our clients in the 2020 Oklahoma Withholding and Unemployment Figures email. If you have not received that email or would prefer to read the information here we have made it available.
2020 Oklahoma Tax Tables – Go to setup, accounting options, payroll. Click on the state & local taxes. Click change on Oklahoma. Change the minimum amounts as follows:
Don’t forget to change your Oklahoma SUTA rate and employer wage limit. Change these on the Unemployment & Disability tab. The Oklahoma Employment Security Commission (OESC) announced that the 2020 state unemployment insurance (SUI) taxable wage base will be $18,700. Your SUTA rate is unique to your company & would have been mailed to you from the OESC. It goes in the Employer rate box. DO NOT change the Federal Unemployment credit. This allows for the calculation of the FUTA: 6.0% – 5.4%= .6%.
Information can be found at the following websites: https://www.ok.gov/oesc/Businesses/Taxable_Wage_Base_and_Rates.html
If you have any questions, please call our office at (405)354-0395.
Thank you and have a Happy New Year!