Federal Payroll Tax Forms and Filing Addresses
Federal Withholding Information
Federal Regular Withholding Formula here.
Federal Supplemental Withholding Formula here.
Personal exemption - $3,900 for 2013 and $3,950 for 2014
Social Security (Old age, survivors, and disability insurance):
6.2% $113,700 for 2013 and $117,000 for 2014 (employee & employer)
12.4% on $113,700 in 2013 and $117,000 in 2014 for self employed
Medicare basic hospital insurance
1.45% on all wages (employee & employer)
Additional 0.9% Medicare tax on wages in excess of $200,000.
2.9% on net earnings (self employed)
FUTA wage base and rates
Effective June 30, 2011, 6.0% less credit for contributions to state funds up to 5.4% on $7,000 (employer). Prior to June 30, 2011, 6.2% less credit for contributions to state funds up to 5.4% on $7,000 (employer). If you are entitled to the maximum 5.4% credit, the FUTA tax rate after credit is 0.8% (0.6% after June 30, 2011). Certain states have lost part or all of this credit. Employers in those states need to check with their labor department to determine the current allowed credit for the state in question.
Contribution limit is $17,500 for 2014, those age 50 and over can contribute up to $23,000.
Hourly minimum rate is $7.25 effective 7/24/09.
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