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Below are the Federal figures needed in the Tax Table Maintenance program (Task 23 in the Payroll module). The ‘codes’ indicate its purpose, for example: USWKLY means Weekly Single rates for Federal Withholding. US- United States; WK – Weekly; SL – Single. Please see the document titled: 2015 FICA & FUTA LIMIT & PERCENTAGE RATES for additional information, especially regarding FICA limits, printing W2 forms and first payroll for a new year.
These rates are based on the http://www.irs.gov/ website “Publication 15 (Circular E), Employer’s Tax Guide for use in 2015”.
Social security and Medicare tax for 2015. The social security tax rate is 6.2% each for the employee and employer, unchanged from 2014. The social security wage base limit is $118,500.
The Medicare tax rate is 1.45% each for the employee and employer, unchanged from 2014. There is no wage base limit for Medicare tax.
Social security and Medicare taxes apply to the wages of household workers you pay $1,900 or more in cash or an equivalent form of compensation. Social security and Medicare taxes apply to election workers who are paid $1,600 or more in cash or an equivalent form of compensation.
Withholding allowance. The 2015 amount for one with-holding allowance on an annual basis is $4.000.00.
Reminders
Additional Medicare Tax withholding. In addition to withholding Medicare tax at 1.45%, you must withhold a 0.9% Additional Medicare Tax from wages you pay to an employee in excess of $200,000 in a calendar year. You are required to begin withholding Additional Medicare Tax in the pay period in which you pay wages in excess of $200,000 to an employee and continue to withhold it each pay period until the end of the calendar year. Additional Medicare Tax is only imposed on the employee. There is no employer share of Additional Medicare Tax. All wages that are subject to Medicare tax are subject to Additional Medicare Tax withholding if paid in excess of the $200,000 withholding threshold.
For more information on what wages are subject to Medicare tax, see the chart, Special Rules for Various Types of Services and Payments, in section 15. For more information on Additional Medicare Tax, visit IRS.gov and enter “Additional Medicare Tax” in the search box.
2015 FUTA:
For 2015, the FUTA tax rate is 6.0%. The tax applies to the first $7,000 you pay to each employee as wages during the year. The $7,000 is the federal wage base. Your state wage base may be different.
To verify you may contact the IRS, Telephone assistance for Businesses: Toll-Free, 1-800-829-4933
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To update the Federal tax tables go to Payroll (Module 1)
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Tax table Maintenance (Task 23)
- Change existing tax record (Sub-task 2)
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Tax table Maintenance (Task 23)
USWKSL Exempt $ 76.90
WEEKLY, SINGLE
BREAK TAX RATE
Field 9 7990.00 2307.52 39.6
Field 10 7958.00 2296.32 35
Field 11 3685.00 886.23 33
Field 12 1789.00 355.35 28
Field 13 764.00 99.10 25
Field 14 222.00 17.80 15
Field 15 44.00 00.00 10
Fields 16 – 20, all zeroes
USWKMR Exempt $ 76.90
WEEKLY, MARRIED
BREAK TAX RATE
Field 9 9105.00 2500.03 39.6
Field 10 8079.00 2140.93 35
Field 11 4597.00 991.87 33
Field 12 3073.00 565.15 28
Field 13 1606.00 198.40 25
Field 14 520.00 35.50 15
Field 15 165.00 00.00 10
Fields 16 –20, all zeroes
USBISL Exempt $ 153.80
BIWEEKLY, SINGLE BREAK TAX RATE
Field 9 15981.00 4615.38 39.6
Field 10 15915.00 4592.28 35
Field 11 7369.00 1772.10 33
Field 12 3579.00 710.90 28
Field 13 1529.00 198.40 25
Field 14 443.00 35.50 15
Field 15 88.00 00.00 10
Fields 16 – 20, all zeroes
USBIMR Exempt $ 153.80
BIWEEKLY, MARRIED BREAK TAX RATE
Field 9 18210.00 4999.96 39.6
Field 10 16158.00 4281.76 35
Field 11 9194.00 1983.64 33
Field 12 6146.00 1130.20 28
Field 13 3212.00 396.70 25
Field 14 1040.00 70.90 15
Field 15 331.00 00.00 10
Field 16 – 20, all zeroes
USSMSL Exempt $ 166.70
SEMIMONTHLY, SINGLE
BREAK TAX RATE
Field 9 17313.00 5000.05 39.6
Field 10 17242.00 4975.20 35
Field 11 7983.00 1919.73 33
Field 12 3877.00 770.05 28
Field 13 1656.00 214.80 25
Field 14 480.00 38.40 15
Field 15 96.00 00.00 10
Fields 16 – 20, all zeroes
USSMMR Exempt $ 166.70
SEMIMONTHLY, MARRIED BREAK TAX RATE
Field 9 19727.00 5416.58 39.6
Field 10 17504.00 4638.53 35
Field 11 9960.00 2149.01 33
Field 12 6658.00 1224.45 28
Field 13 3479.00 429.70 25
Field 14 1127.00 76.90 15
Field 15 358.00 00.00 10
Fields 16 –20, all zeroes
USMOSL Exempt $ 333.30
MONTHLY, SINGLE BREAK TAX RATE
Field 9 34625.00 9999.62 39.6
Field 10 34483.00 9949.92 35
Field 11 15967.00 3839.64 33
Field 12 7754.00 1540.00 28
Field 13 3313.00 429.75 25
Field 14 960.00 76.80 15
Field 15 192.00 00.00 10
Fields 16 – 20, all zeroes
USMOMR Exempt $ 333.30
MONTLY, MARRIED BREAK TAX RATE
Field 9 39454.00 10832.98 39.6
Field 10 35008.00 9276.88 35
Field 11 19921.00 4298.17 33
Field 12 13317.00 2449.05 28
Field 13 6958.00 859.30 25
Field 14 2254.00 153.70 15
Field 15 717.00 00.00 10
Fields 16 – 20, all zeroes