2014 Payroll Tax Rates & New Wage Limits

January 1, 2014

The following are the changes in payroll taxes effective January 1, 2014:

                                                                                   Taxable Wage Base

Employee Withholdings          Rate                                   Per Person

Social Security                      6.2%                                Maximum wages: $117,000

Medicare                               1.45%                              No limit

Additional Medicare Tax         0.9%                                Wages over $200,000

Federal Withholding               Use withholding tables in Publication 15 dated January, 2014

RI Withholding                       Use withholding tables in RI Booklet dated January, 2014     

TDI                                       1.2%                                Maximum wages: $62,700

Employer Payroll Taxes                                               

Social Security                      6.2%                                Maximum wages:  $117,000          

Medicare                               1.45%                              No limit

SUTA                                   Assigned rate*                  Maximum wages: $20,600

New Employer Rate SUTA      2.85%                              Maximum wages: $20,600

JDF                                      0.51%                              Maximum wages: $20,600

FUTA                                    0.6%                                Maximum wages: $ 7,000

RI Additional                          0.9%                               

*DET will let you know what your SUTA rate is by January, 2014.

If you have any questions, please contact us.