Resources > Pension & Payroll Limits

2006 Tax Guide - Federal

FICA/Social Security
   Maximum Earnings $94,200
      (up from $90,000 in 2005)
   Employee/Employer Percentage 6.20%
   Maximum Deduction $5,840.40
      (up from $5,580 in 2005)
   Self Employment Tax 12.4%


FICA/Medicare
   Maximum Taxable Earnings No Limit
   Employee/Employer Percentage 1.45%
   Maximum DeductionNo Limit
   Self Employment Tax 2.9%


Federal Unemployment (FUTA)
   Maximum Taxable Earnings $7,000
   Rate % of Taxable Earnings 6.2%
   Maximum Credit 5.4%
   Normal Net Federal Unemployment Tax 0.8%


Federal
   Federal Minimum Wage $5.15

 

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