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Last modified on 1/2/2019 7:29 AM by User.

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2019 FICA & FUTA LIMIT & PERCENTAGE RATES

*** 2019 FICA Maximum has changed from 2018 ***

 
Please note: Some of the comments below regarding setting/resetting amounts for W2 & year-end reports would only apply to if there had been a change but are left here for consistency with prior years. It is still a good practice to double check those values.

 

 

Before running a payroll for a new calendar year (2019), the MTD, QTD and YTD (from 2018) on the employees’ records must be cleared out.  Running the Clear YTD, QTD, MTD Emp/Recurring­ program does this.  Go to:

  • Payroll (Module 1)
    • System Management Functions (Task 32)
      • Clear YTD, QTD, MTD Emp/Recurring (Sub-task 3)

 

 

Clearing these fields will not interfere with the running of W-2s for 2018, since the information for the W-2s come from the Payroll History. Note:  If these fields are not cleared, the current year’s wages (2019 that print on the check stub will also include the wages from the prior year (2018).

 

  • Also note that the FICA wage Maximum for 2019 HAS changed:
    • 2019 $132,900.00  [Revision date 12/17/2018]
    • 2018 $128,400.00
    • See below the change needed in field 5.  Unless you have an employee who is going to exceed the $132,900.00 before the 2018 W2’s are printed, then this change can be made after your W2’s are printed.
  • The FICA employee tax rate for social security is still 6.20%, as it was in 2018.
  • The FICA employer tax rate for social security is still 6.20%, as it was in 2018.

 

FICA fields are found in:

  • Payroll (Module 1)
    • System Management Functions (Task 32)
      • Update P/R Execution Parameters (Sub-task 4)
        • Field 5: FICA Maximum: 132,900.00
        • Field 6: FICA employee %:  6.20
        • Field 7: FICA employer %:  6.20

 

 

 

ADDITIONAL NOTE:  Field 5: FICA Maximum needs to be the 2018 amount of $128,400.00 when the 2018 W2’s are printed and when the payroll reports are printed for the 2018 4th quarter.

 

 

Verify the 2019 FUTA % & maximum:  (Both unchanged from 2018)

  • Payroll (Module 1)
    • System Management Functions (Task 32)
      • Update P/R Execution Parameters (Sub-task 4)
        • Field 20 Fed unemp max: 7,000.00
        • Field 21 Fed unemp pct: 0.60  (which is net of 6% - 5.4% max credit. You must verify this is applicable to your particular state & situation)

 

STATE:

  • If your state has an unemployment maximum and an unemployment % you may need to update field 22 & 23.  Verify with your state website or your accountant.