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QUICK TAX FACTS
FICA WITHHOLDING
Form 1040; Publications 15, 15-A
|
2003 |
2004 |
2005 |
2006 |
2007 |
Social Security component |
Base salary |
$87,000.00 |
$87,900.00 |
$90,000.00 |
$94,200.00 |
$97,500.00 |
Rate |
6.20% |
6.20% |
6.20% |
6.20% |
6.20% |
Maximum |
$5,394.00 |
$5,449.80 |
$5,580.00 |
$5,840.40 |
$6,045.00 |
|
|
|
|
|
|
Medicare component |
Base salary |
no limit |
no limit |
no limit |
no limit |
no limit |
Rate |
1.45% |
1.45% |
1.45% |
1.45% |
1.45% |
Maximum |
no limit |
no limit |
no limit |
no limit |
no limit |
The information provided in this "Quick Tax Facts" section is intended as a general guideline only.
For the most detailed and up-to-date information, contact us at 518-783-7200, or visit www.irs.gov.
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