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Written by Laura Chapman
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Tuesday, 01 January 2008 |
EMPLOYER TAX RATES
(This list is not exhaustive. Please consult the links section for the telephone numbers and web pages of the various tax agencies for your area.)
Tax
Type |
Employer
Pays |
Employee
Pays |
Up to Maximum Salary of |
Federal Employer Taxes |
Social Security |
6.2% |
6.2% |
$102,000 for 2008 |
Medicare |
1.45% |
1.45% |
Unlimited |
FUTA
Federal Unemployment Insurance |
0.8%
If paid State SUI Otherwise 6.2% |
0 |
$7,000 |
State Employer Taxes |
Tax
Type |
Employer
Pays |
Employee
Pays |
Up to Maximum Salary of |
ETT Tax |
0.1% |
0 |
$7,000 |
SUI Taxes |
See your form DE2088
Normally mailed in Dec of each year. Lost it? Call 916-653-7795 |
0 |
$7,000 |
SDI |
0 |
.08% |
$86,698 for 2007 |
2008 Mileage Rates
Business $0.505
Medical $0.19
Charitable $0.14
Relocation $0.19
2008 Retirement Plan Limits
401k
Pretax Contributions for 401(k) and SEP plans and 403(b) annuities $15,500
Workers Aged 50 and over catch up provision add $5,000
Defined Benefit Plans
Sec. 415 (b)(1)(A) defined benefit plan annual benefit ceiling $185,000
Combined employer/employee pay-in limits for all defined contribution plans $46,000
Annual compensation limit under Sec. 401a(17) and Sec. 404(1) $230,000
SIMPLE Plans
Sec. 408(k)(3)(C) IRA, SEP or SIMPLE plan limits $230,000
SIMPLE pretax contribution limit $10,500
Workers aged 50 and over catch up add $2,500
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Last Updated ( Thursday, 05 March 2009 )
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