Paychex Tax Facts
2015
Federal Rates and Limits
FICA
Federal Minimum Wage
Social Security (OASDI) Wage Base.............................................................................. $118,500
Medicare (HI) Wage Base............................................................................................... No Limit
Social Security (OASDI) Percentage.................................................................................... 6.2%
Medicare (HI) Percentage............................1.45% (2.35% for individuals earning over $200,000)
Maximum Employee Social Security (OASDI) Withholding.............................................$7,347.00
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
$7.25
FLSA employers are required
to follow federal minimum wage rules when
the state minimum wage is less than the
federal minimum wage.
Mileage Rates
Business.............................. 57.5¢/mile
Medical...................................23¢/mile
Moving....................................23¢/mile
Charitable................................14¢/mile
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.....................The lesser of 100% of
compensation or $53,000
Maximum Annual Contribution to Keogh or SEP-IRA.......... 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
Rates are subject to change.
For current, real-time
federal and state-specific
tax information, or to create your
own customized Tax Facts, visit
www.paychex.com/
accounting-professionals/
resources/tax-facts.aspx
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
1
Rates vary by industry. 2
Rates include surcharges. 3
Special rules apply to minimum wage standards for this state. Please refer to state laws. 4
For specific rate please reference the state withholding tables.
State Rates and Limits
Region: West
State Supplemental
Withholding Rate
State Unemployment
Taxable Wage Base Limit
State Unemployment
Rate Range for Employers
State Unemployment
New Employer Rate
State Hourly
Minimum
Wage
State Minimum
Wage for
Tipped Employees
1.84%-2.45%
(Employee contribution
rate of 0.57% is not
included in this rate)
$8.75
$8.75
$5.05
(Rates do not include surcharges)
Alaska
No state withholding
$38,700
1.0%-5.4%
(Employee contribution
rate of 0.57% is not
included in this rate)
Arizona
0.8%-5.1%4
$7,000
0.03%-7.79%
2.0%
$8.05
California
1.1%-14.63%4
$7,000
1.5%-6.2%
3.40%
$9.00
N/A
Colorado
4.63%
$11,800
0.66%-8.9%
1.70%
$8.233
$5.213
$40,900
0.2%-5.8%
$7.75
$7.25
Hawaii
N/A
Idaho
1.6%-7.4%
$36,000
0.545%-5.40%
1.585%
$7.25
$3.35
6.0%
$29,500
0.02%-6.12%
1.00%-3.10%1
$8.05
N/A
No state withholding
$27,800
0.25%-5.4%
2.95%
$8.253
N/A
1.7%-4.9%4
$23,400
0.1%-5.4%
1.61%
$7.50
$2.13
9.0%
$35,700
1.5%-5.4%
2.90%
$9.25
N/A
Montana
Nevada
New Mexico
Oregon
Utah
4
3.00%
2
2
5.0%
$31,300
0.3% - 7.3%
1.3% – 7.3%
$7.25
$2.13
Washington
No state withholding
$42,100
0.17%-5.84%2
Rate is 90% of
average industry rate
$9.47
N/A
Wyoming
No state withholding
$24,700
0.27%-10.0%2
1.28%-3.60%1, 2
$5.15
$2.13
3/13/15
Rates for 2015 as known on March 13, 2015. This material is current only as of the date of publication. This publication is designed
to provide accurate and authoritative information in regard to the subject matter covered. It is furnished with the understanding that
the publisher is not engaged in rendering legal, accounting, or other professional services. If legal advice or other expert services
are required, the services of a competent professional should be sought.
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