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For proper Iowa tax withholding, the Annual Standard Deduction amount must be entered in the next to last field in each employee's record. The Annual Tax Credit amount must be entered in the last field in each employee's record.
The Annual Standard Deduction amount, which can be found for Iowa at the website shown on the Iowa tax table is as follows:
Number of allowances claimed Annual Standard Deduction
0 or 1 $1650
2 or more $4060
The Annual Tax Credit amount is $40.
Access the Iowa Tax Table by clicking "Utilities" on the TKT Payroll Main Menu bar, then highlighting "Withholding Rates" and clicking "State Annual Rates". Next, click the down arrow to select the state and click the “Go” button.
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