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Employment
Tax Rates and Wage Bases for 2007
Social Security Tax:
Medicare
Tax:
Federal
Unemployment (FUTA) Tax:
Amount
for one withholding allowance: $3,400.
Rate
Table shown below (use table 7)
Table
7 - Annual Payroll Period.
Single
Person (including head of household)
Not over $2,650 ...............Tax withheld is $0.
| Over |
But
Not Over |
|
|
Of
Excess Over |
| $2,650 |
$10,120 |
|
|
10%
$2,650 |
| $10,120 |
$33,520 |
$747.00 |
Plus |
15%
$10,120 |
| $33,520 |
$77,075 |
$4257.00 |
Plus |
25%
$33,520 |
| $77,075 |
$162,800 |
$15,145.75 |
Plus |
28%
$77,075 |
|
$162,800 |
$351,650 |
$39,148.75 |
Plus |
33%
$162,800 |
|
$351,650 |
$9,999,999* |
$101,469.25 |
Plus |
35%
$351,650 |
Married
Person
Not over $8,000 .............Tax withheld is $0.
| Over |
But
Not Over |
|
|
Of
Excess Over |
| $8,000 |
$23,350 |
|
|
10%
$8,000 |
| $23,250 |
$70,700 |
$1,535.00 |
Plus |
15%
$23,350 |
| $70,700 |
$133,800 |
$8,637.50 |
Plus |
25%
$70,700 |
| $133,800 |
$203,150 |
$24,412.50 |
Plus |
28%
$133,800 |
|
$203,150 |
$357,000 |
$43,830.50 |
Plus |
33%
$203,150 |
|
$357,000 |
$9,999,999* |
$94,601.00 |
Plus |
35%
$357,000 |
*
Unlimited, entry needs to be lager than largest payroll paid
to any one individual.
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