Info Circ 04-p-014 - New Deduction Codes

Employer Deduction Codes LOR001 and LOR002 have been added to the General Deduction Table for the purpose of collecting the Employer's Local Transit Tax for employees who are based in the Tri-Met and Lane County locals in Oregon. Deduction codes and tax information are as follows:

Taxing Authority	Deduction Code	Tax Rate	Tax Base
Tri-Met	LOR001	.006218	Employee's Gross Wages
Lane County	LOR002	.006000	Employee's Gross Wages

Expenditure sub-object code 1790 has been established in STARS to record the employer expenditure; amounts expended for the Oregon Local Transit Tax should be receipted into the Department of Administration Clearing Fund 9030, index 9885. For Regents' Clearing Funds, index 9685 has been established.

Please find attached the document "Index Codes for Agency and DOA Clearing Funds". This document incorporates the changes discussed above and replaces the document issued with Informational Circular 03-P-015 dated October 4, 2002.

The Division of Accounts and Reports, Payroll Systems Team will make the necessary updates to the SHARP payroll system to effect these changes. Regent's institutions are responsible for ensuring that these changes are made to their individual systems.

DB:JJM:rdb

Attachment: Index Codes for Agency and DOA Clearing Funds (.pdf)