For all payroll calculations, use the following tax rates and round amounts to the nearest...
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For all payroll calculations, use the following tax rates and round amounts to the nearest cent: Employee: OASDI: 6.2 % on first $ 132,900 earned; Medicare: 1.45 % up to $ 200,000 , 2.35 % on earnings above $ 200,000 . Employer: OASDI: 6.2 % on first $ 132,900 earned; Medicare: 1.45 %; FUTA: 0.6 % on first
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