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FICA/SOCIAL SECURITY
Maximum Taxable Earnings:
$80,400
Withholding tax rate
(employer & employee): 6.2%
Maximum deduction: $4,984.80
Self Employment Tax Rate: 12.4%
FlCA/MEDICARE
Withholding tax rate: 1.45%
(Employer's expense tax rate 1.45%)
Self Employment Tax: 2.9%
There is no limit on FICA/Medicare
FUTA
Maximum Taxable Earnings: $7,000
Tax rate: 6.20%
Max. Credit for state taxes: 5.40%
Normal Net Tax:
0.80% |
NEW
JERSEY SUI/SDI
Unemployment
Insurance:
Maximum
Taxable Earnings: $22,100
|
Workforce
Development |
0.025% |
|
Disability
Insurance |
0.50% |
|
Unemployment
Fund |
0.20% |
|
Health Care
Fund |
0.20% |
Total employee withholding: 0.925%
Maximum amount withheld:
$204.43
Standard
Employer Rate: 2.80%
Voluntary Contribution is Permitted
Disability
Insurance:
Maximum
Taxable Earnings: $22,100
Employee/Employer Deduction: 0.50%
Questions or comments?
Email us at
 |
Richard G. Price,
CPA, P.C.
Certified Public Accountant
and Consultant
281 Highway 79 • Morganville,
NJ 07751
Tel: 732-970-1040 Fax:
732-970-1414 |
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