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New Updates

Social Security and Medicare Taxes

For 2011, the employee SS rate has been reduced by 2% to 4.2% of wages and the employer rate remains unchanged.:

 6.2% employer rate for social security tax (old-age, survivors, and disability insurance), and

1.45% each for Medicare tax (hospital insurance).

Wage limits. For social security tax, the maximum amount of 2011 wages subject to the tax is $106,800. For Medicare tax, all covered wages are subject to the tax.

CA SDI base limit is $93,316 at 1.2%.

Reminders:

You should have all employees complete a 2011 W4 form by 2/15/11.

Forward any new UI rates or Federal deposit change notices to your customer service representative.

For any SS# verification on new hires, you can contact the SSA directly at (800) 772-6270 for a limit of 5 requests, or submit through your customer service representative.

 

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Last modified: January 02, 2011