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Current Information for your Convenience
Social Security Tax Rate
•The employee rate is 4.2% withheld (Making Work Pay credit) (2011)
•The employer rate is 6.2% for a total of 12.4%
•The wage base limit is $106,800
Medicare Tax Rate
•The employee rate is 1.45% withheld
•The employer rate is 1.45% for a total of 2.9%
•There is no wage base limit, all covered wages are subject to Medicare tax
Federal Tax Withholding Rate
This is found in Publication 15 from the IRS pages 25-28.
Federal Unemployment Tax Rate
•The FUTA is 6.0% beginning July 1, 2011.
•This applies to the first $7,000 you pay each employee as wages in the year.
•$7,000 is the federal base wage
If you pay state unemployment your futa is reduced to .08%
Income Tax
Should your employees need a hand in filling out there form W-4
The IRS has a tool that can help.
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Elk Grove, CA 95758
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