Hi all,
The busiest months of payroll are gone, I can dedicate some time back to this blog, I’ll try to update it regularly.
I’ve created a summary page for you and I hope you find this useful. 2008 TAX SUMMARY RATES AND LIMITS
| TAX RATE | EMPLOYEE PAYS | EMPLOYER PAYS | WAGE LIMIT | |
| FEDERAL UNEMPLOYMENT (FUTA) | 0.8% | NO | YES | $7000 |
| SOCIAL SECURITY (FICA) | 6.2% | YES | YES | $102,000 |
| MEDICARE | 1.45% | YES | YES | NO MAX |
| PERSONAL INCOME TAX | VARIES | YES | NO | NO MAX |
| STATE UNEMPLOYMENT (SUI)*** | VARIES | NO/YES | YES | VARIES |
Notes***State Unemployment Insurance (SUI)- In a few states, the employees are required to pay the SUI tax. Please check your state for more details. If you need more information about a specific state, you may want to check with your state .
