Federal s and Limits FICA Social Security (OASDI) Base $118,500 Medicare (HI) Base No Limit Social Security (OASDI) Percentage 6.20% Medicare (HI) Percentage Maximum Employee Social Security (OASDI) Withholding 1.45% (2.35% for individuals earning over $200,000) $7,347 Maximum Medicare (HI) Withholding No Limit Maximum Amount of Earnings to Still Receive Full Benefits Under Full Retirement Age $15,720 Amount of AGI Causing SS Benefits to be Taxable (85%) Married/Filing Jointly $44,000 Single $34,000 Federal $7.25 FLSA employers are required to follow federal minimum wage rules when the state minimum wage is less than the federal minimum wage. Business Medical Moving Charitable Mileage s 56 /mile 23.5 /mile 23.5 /mile 14 /mile
Federal s and Limits Retirement Contributions Maximum Elective Deferral to 401(k) and 403(b) $18,000 Maximum Elective Deferral to SIMPLE IRA Plans $12,500 Maximum Annual Contribution to Defined Contribution Plans Maximum Annual Contribution to Keogh or SEP-IRA The lesser of 100% of compensation or $53,000 The lesser of 25% of W-2 or $53,000 Maximum Annual Compensation Taken into Account for Contributions $265,000 Threshold Amount for Definition of Highly Compensated Employees $120,000 Threshold Amount for Definition of Key Employee in Top-Heavy Plans $170,000 Catch-Up Contribution Limits Individuals who will be at least age 50 by the end of the year can make catch-up contributions. 401(k) Plans $6,000 SIMPLE Plans $3,000 s are subject to change.
Withholding Range for Negative Alabama 2%-5% $8,000 0.65-6.8% 2.70% N/A N/A Alaska N/A $37,400 1.54%-5.4% 2.30% - 2.97% $7.75 $7.75 Arizona 0.8% - 5.1% $7,000 0.03%-7.17% 2.00% $8.05 $5.05 Arkansas 1%-7% $12,000 1.2%-13.1% 2 4.0% 2 $7.50 3 $2.63 3 California 1.1% - 14.630% $7,000 1.5%-6.2% 3.40% $9.00 N/A Colorado 4.63% $11,800 0.66% - 8.9% 1.70% $8.23 3 $5.21 3 Based on Industry 2.5% New 4.8% Construction $7.75 $2.23 Connecticut 3%-6.7% $15,000 1.9%-6.8% 2 4.80% $8.70 Delaware 2.2%-6.60% $18,500 0.3%-8.2% Dtrct of Columbia 4%-8.95% $9,000 1.6%-7.0% 2.70% $9.50 $2.77 Florida N/A $8,000 0.59%-5.4% 2.70% $7.93 $4.91 Georgia 1%-6% $9,500 0.04%-8.10% 2.62% $5.15 3 $2.13 3 Hawaii 1.4%-7.9% $40,400 0.6% - 6.0% 3.40% $7.25 $7.00 Idaho 1.6%-7.4% $35,200 0.545%-5.40% 2 1.906% 2 $7.25 $3.35 Illinois 5% $12,960 0.55%-8.55% 2 3.95% New Employer 2 / 5.85% New Construction ER 2 8.25 3 $4.95 3
Range for Negative Withholding Indiana 3.40% $9,500 0.5%-9.4% 2.50% $7.25 3 $2.13 3 Iowa 0.36%-8.98% $27,300 0.0% -8.0% Kansas 3.5%-6.45% $12,000 0.07%-7.4% Kentucky 2%-6% $9,900 1.0%-10.0% 1.0% New Construction 8.0% $7.25 $4.35 2.7% New 6.0% Construction $7.25 $2.13 3 2.7% New 10.0% Construction $7.25 $2.13 Louisiana 2.1%-5.1% $7,700 0.10%-6.2% 3.02% N/A N/A Maine 0% - 7.95% $12,000 0.73% - 6.80% 2.60% $7.50 $3.75 Maryland 3.0%-9.45% $8,500 0.3%-7.5% 2.6% New 10.5% Out of Construction $8.00 $3.63 Massachusetts 5.20% $15,000 1.26% - 12.27% 2.83% New 9.37% Construction $9.00 $3.00 Michigan 4.25% $9,500 0.06%-10.3% 2.7% New 8.6% New Construction $8.15 3 $3.10 3
Withholding Range for Negative Minnesota 5.35%-9.85% $30,000 0.1% - 9.0% 1.76% New 9.0% Construction $8.00 3 $8.00 3 Mississippi 3%-5% $14,000 0.39%-5.4% 1.16% 2 N/A N/A Missouri 1.5%-6% $13,000 0.0% to 7.8% 3.51% New 4.622% Construction $7.65 $3.83 Montana 1.8%-6.6% $29,500 0.42% - 6.12% 1.40% - 3.60% 1 $7.90 N/A Nebraska 2.35%-6.95% $9,000 0%-5.40% 1.25% - New 5.40% Construction $8.00 3 $2.13 3 Nevada N/A $27,800 0.25%-5.4% 2.95% $8.25 3 N/A New Hampshire N/A $14,000 0%-7.8% 2.00% $7.25 $3.27 New Jersey 1.5%-9.9% $32,000 1.0825%-6.8825% 3.2825% $8.38 $2.13 New Mexico 1.7%-4.9% $23,400 0.1%-5.4% 2.00% $7.50 $2.13 Based on New York 4%-9.62% $10,500 2.1%-9.9% 4.10% $8.75 Industry North Carolina 5.80% $21,700 0.6%-5.76% 1.20% $7.25 $2.13 North Dakota 1.21% - 3.22% $33,600.16% - 9.76% 1.22%-6.18% New 9.78% Construction $7.25 $4.86 Ohio 0.581%-5.805% $9,000 0.3% - 8.6% 2.7 New 6.5% Construction $8.10 $3.98
Range for Negative Withholding Oklahoma 0.1%-5.5% $17,000 0.1%-5.5% 2.20% $7.25 3 $3.63 3 Oregon 5%-9% $35,000 1.8% - 5.4% 3.10% $9.25 N/A Pennsylvania 3.07% $8,750 2.8010% - 15.0977% 2 3.6785% New 10.1947% Construction $7.25 $2.83 $21,200 except those in highest tax group whose wage base will be $22,700 Rhode Island 3.75%-5.99% 1.69% - 9.79% 2.74% $9.00 $2.89 South Carolina 2%-7% $14,000 0.0%-7.36% 1.84% N/A N/A South Dakota N/A $14,000 0%-9.5% 1.0-1.2 % New 3.0-6.0% Construction $7.25 $2.13 Tennessee N/A $9,000 0.01%-10.0% 2.7% - 7.0% 1 N/A N/A Texas N/A $9,000 0.51%-7.41% 2 2.7% 2 $7.25 $2.13 Utah 5% $31,300 0.3% - 7.3% 2 1.3% 7.3% 2 $7.25 $2.13 Vermont 3.55%- 8.95% $16,400 1.3%-8.4% 1.0% 6.4% 1 $9.15 $4.58 Virginia 2%-5.75% $8,000 0.52% - 6.62% 2 2.92% In New 6.62% Out of Contractor $7.25 3 $2.13 3 Washington N/A $42,100 0.17%-5.84% 2 is 90% of average industry rate $9.47 N/A
Withholding Range for Negative West Virginia 3%-6.5% $12,000 1.5-8.5 Wisconsin 4.0%-7.65% $14,000 0.27%-12% 1 range of rates can vary by small/large firms 2.7% In New 8.5% Out of Construction $8.00 3 $5.80 3 New Employer 3.6% 4.1%, Construction 6.60% $7.25 3 $2.33 3 Wyoming N/A $24,500.48%-10.0% 2 2.16%-4.69% 1,2 $5.15 $2.13 Puerto Rico 7%-33% $7,000 2.4%-5.4% 3.30% $5.08 $2.13 1 s vary by Industry 2 s include 3 Special rules apply to minimum wage standards for this state. Please refer to state laws. KEY: Changes for 2015 as of December 5, 2014.