Standard deduction:
0-1 allowances: $14,600.00.000
2+ allowances: $29,200.00

Tax credit per allowance: $40.00

Calculation formula:
1. T1 = Gross wages - Standard Deduction
2. T2 = T1 x R (R=Withholding tax rate)
3. T3 = T2 - (C x N) (C=deduction per allowance, N=Number of allowances)
4. T4 = T3 + A (A=Additional withholding)

Note(s):

• All amounts are annual unless otherwise noted