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2017 PAYROLL TAX RESPONSIBILITIES
Employee
Social Security 6.2% of gross pay – 2017 maximum taxable earnings $127,200 Medicare 1.45% of gross pay up to $200,000 + 0.9% of gross pay $200,000 and above (2.35% total) Federal Withholding Based upon W-4 filing status State Withholding Based upon W-4 filing status Other State Taxes Contact Big Fish for additional state tax rates, if applicable.
CA Disability: 0.9% of gross pay – maximum taxable earnings $110,902 (Up to $998.12 per employee/year)
Employer
Social Security 6.2% of gross pay – 2017 maximum taxable earnings $127,200 Medicare 1.45% of gross pay – no wage maximum Federal Unemployment 0.6% on first $7,000 earned by each worker annually
(up to $42 per employee/year) State Unemployment/ETT Varies by State, by Employer
Retirement Plans
401K/403B/457 401k/403B/457 $18,000 maximum contribution, $6,000 catch-up (age 50 and over) SIMPLEs SIMPLEs $12,500 maximum contribution, $3,000 catch-up (age 50 and over)
IRA/Roth IRA $5,500 maximum contribution, $1,000 catch-up (age 50 and over)
Minimum Wage
Federal $7.25 effective 7/24/09 State (CA) $10.50 effective 1/1/17 Employers with 26 or more employees $10.00 effective 1/1/17 Employers with 25 or less employees
For more information: office: 714.769.3410 │ fax: 714.844.4840 │ [email protected]
This document will be updated if rates are changed.