 |
|
| Federal Web Sites |
Internal Revenue Service
Social Security Administration
U.S. Dept. of Labor |
| |
| FICA (Social Security) |
Maximum Taxable Earnings:
|
$102,000 |
| Employee / Employer Deduction: |
6.2% |
Maximum Deduction:
|
$6,324.00 |
| Self-Employment Tax: |
12.4% |
| |
| FICA (Medicare) |
| Maximum Taxable Earnings: |
No Limit |
| Employee / Employer Deduction: |
1.45% |
| Maximum Deduction: |
No Limit |
| Self-Employment Tax: |
2.9% |
| |
| FUTA (Employer-Paid) |
| Maximum Taxable Earnings: |
$7,000 |
| Percent of Taxable Wages: |
6.2% |
| Maximum Credit: |
5.4% |
| Normal Net Tax: |
0.8% |
| |
| Federal Income Tax/Bonus Rate |
Federal Withholding:
|
Table |
| Flat Rate Withholding Method: |
25% |
| Pay Over $1 Million: |
35% |
| |
| California Income Tax |
| Wage Withholding: |
Table |
| Supplemental Wage Rate: |
6%, except 9.3% for BONUSES and earnings from STOCK OPTIONS |
| |
| California Unemployment Insurance |
Maximum 2008 Taxable Earnings:
|
$7,000 |
| Employee Deduction: |
None |
Employer 2008 Tax Rates:
|
1.6 - 6.3% |
Standard 2008 New Employer Rate:
|
3.5% |
| Voluntary Contribution Permitted: |
No |
| |
| California Disability Insurance |
Maximum 2008 Taxable Earnings :
|
$86,698 |
Employee Deduction:
|
0.8% |
| Employee Maximum Withholding: |
$693.58 |
| Employer Contribution: |
None |
| |
| California Minimum Wages |
Minimum Wage:
|
$8.00 |
Minimum Cash Wage:
|
$8.00 |
| Maximum Tip Credit: |
Not Allowed |
| Youth Sub-Minimum Wage: |
Varies by age and
hours worked |
| |
| California Web Sites |
Franchise Tax Board
Employment Development Dept.
Dept. of Industrial Relations |
