Updates
Updates include calculation and rate changes to reflect current tax law resulting from inflation adjustments, legislative changes, and review of supported authorities. Effective dates indicate when the changes enter into force. Updates are effective January 1, 2025 unless stated otherwise.
Amounts are given in CAD or USD. Amounts are annual unless stated otherwise.
Canada
Saskatchewan
Made the following changes:
Increased the personal and spouse credits by $492 to $19,491.
Decreased the dependent credits by $11,295 to $7,704.
United States
Income Tax
Increased the business mileage rate by $0.03 to $0.70.
Social Security
Increased the railroad retirement tier II wage ceiling by $5,700 to $130,800.
Alaska
Increased the maximum unemployment insurance contribution by $10 to $259, due to a wage ceiling increase of $2,000 to $51,700.
Arkansas
Increased the standard deduction for all filing status. The deduction increased by $70 to $2,410 for single employees.
Hawaii
Increased the maximum disability insurance contribution by $17 to $375, due to a wage ceiling increase of $3,480 to $74,969.
Indiana
Decreased the statute and supplemental rates by 0.05% to 3%.
Updated the rates for ten local tax authorities.
Louisiana
Made the following changes:
Replaced the three-tier statute and supplemental tax tables with a flat rate of 3%.
Removed the personal and dependent exemption credits.
Added a standard deduction for all filing status. The deduction is $12,500 for single employees.
Maryland
Updated the rates for two local tax authorities.
New Jersey
Increased the following:
Family leave insurance wage ceiling by $4,000 to $165,400 and contribution rate by 0.24% to 0.33%.
Disability insurance wage ceiling by $4,000 to $165,400 and reinstated the contribution at 0.23%. The contribution was paused for the 2023 and 2024 tax years.
Unemployment insurance wage ceiling by $1,000 to $43,300.
Ohio
Updated the tax rates for four local school districts.
Rhode Island
Increased the maximum disability insurance contribution by $116 to $1,160, due to a rate increase of 0.1% to 1.3% and a wage ceiling increase of $2,200 to $89,200.