Payroll-Taxes.com - Federal, State and Local Payroll and Tax Information

Federal Tax Rates

Federal Income Tax (FIT) - Withholding formula
Supplemental withholding information here
Single Individuals & Head of Household- 2008
Income          Pay                + % of     Amount >
<$2,650             $0.00         0%         $0.00
<$10,300            $0.00        10%        $2,650
<$33,960          $765.00        15%        $10,300
<$79,725        $4,314.00        25%        $33,960
<$166,500      $15,755.25        28%        $79,725
<$359,650      $40,052.25        33%        $166,500
>$359,650     $103,791.75        35%        $359,650
Single Individuals & Head of Household- 2007
Income          Pay                + % of     Amount >
<$2,650       $0.00              0%         $0.00
<$10,120      $0.00              10%        $2650
<$33,520      $747.00            15%        $10,120
<$77,075      $4,257.00          25%        $33,520
<$162,800     $15,145.75         28%        $77,075
>$351,650     $39,148.75         33%        $162,800
>$351,650     $101,469.25        35%        $351,650
Married Individuals Filing Jointly and Surviving Spouses - 2008
Income          Pay             + % of     Amount >
<$8,000       $0.00               0%           $0.00
<$23,550      $0.00              10%          $8,000
< $72,150     $1,555.00          15%         $23,550
< $137,850    $8,845.00          25%         $72,150
< $207,700    $25,270.00         28%        $137,850
< $365,100    $44,828.00         33%        $207,700
> $365,100    $96,770.00         35%        $365,100
Married Individuals Filing Jointly and Surviving Spouses - 2007
Income          Pay                + % of     Amount >
<$8,000       $0.00                 0%          $0.00
<$23,350      $0.00                10%          $8,000
< $70,700     $1,535.00          15%           $23,350
< $133,800    $8,637.50          25%           $70,700
< $203,150    $24,412.50         28%          $133,800
< $357,000    $43,830.50         33%        $203,150
> $357,000    $94,601.00         35%        $357,000
Federal Insurance Contributions Act (FICA) - Medicare
Employee - 1.45% on all wages
Employer - 1.45% on all wages
Self employed - 2.9% on net earnings

Federal Insurance Contributions Act (FICA) - Old Age, Survivors, and Disability Insurance (OASDI)
Employee - 6.2% on first $102,000 of wages for 2008
Employer - 6.2% on first $102,000 of wages for 2008
Self employed - 12.4% on first $102,000 of net earnings for 2008
Federal Unemployment Tax (FUTA)
Employers who either employ one or more individuals in each of twenty different weeks in a calendar year or pay wages of $1,500 or more during any calendar quarter in the current or preceding calendar year pay 6.2%. Employers are entitled to a credit against their FUTA liability for contributions to state funds. The credit is limited to 90% of a deemed 6% federal tax rate (5.4%). The net effective FUTA rate for most employers is therefore 0.8% on the first $7,000 of wages paid to each employee in a calendar year.