More info

For all payroll calculations, use the following tax rates and round amounts to the

nearest cent:

Employee: OASDI: $6\mathrm{.}2\%$ on first $$117,000$ earned; Medicare: $1\mathrm{.}45\%$ up

to $$200,000,2\mathrm{.}35\%$ on earnings above $$200,000.$

Employer: OASDI: $6\mathrm{.}2\%$ on first $$117,000$ earned; Medicare: $1\mathrm{.}45\%$; FUTA:

$0\mathrm{.}6\%$ on first $$7,000$ earned; SUTA: $5\mathrm{.}4\%$ on first $$7,000$ earned.