|
1- FICA Social Security
|
|
|
Percentage charged to income |
12.4% |
|
Maximum taxable earnings |
$80,400 |
|
Deduction from employee wages |
6.2% |
|
Maximum deduction from employee |
$4,985 |
|
Employer contribution |
6.2% |
|
|
|
| 2- FICA Medicare |
|
|
Percentage charged to income |
2.9% |
|
Maximum taxable earnings |
All earnings (no limits) |
|
Deduction from employee wages |
1.45% |
|
Maximum deduction from employee |
1.45% of all earnings |
|
Employer contribution |
1.45% |
|
|
|
| 3- FUTA Federal Unemployment Tax |
|
|
Percentage charged to taxable wages |
6.2% |
|
Maximum credit against state SUTA |
5.4% |
|
Maximum taxable earnings |
$7,000 per employee |
|
Deduction from employee wages |
0% |
|
Maximum deduction from employee |
$0 |
|
Employer contribution |
1.45% |
|
|
|
| 4- SUTA Texas – State Unemployment Tax |
|
|
Percentage charged to taxable wages |
0.24% to 6.24% |
|
Maximum taxable earnings |
$9,000 per employee |
|
Deduction from employee wages |
0% |
|
Maximum deduction from employee |
$0 |
|
Average New Employer contribution |
2.7% |
|
Tax Form to file |
TWC C-3 |
|
|
|
| 5- Federal Minimum Wage |
|
|
Minimum REGULAR wages (per hour) |
$5.15 |
|
Minimum TIPPED wages (per hour) |
$2.13 |
|
Maximum TIP credit (per hour) |
$3.02 |
|
Youth Sub-Minimum wages |
$4.25 |
