More Info For all payroll calculations, use the following tax rates and round amounts to the nearest cent Employee: Employer: OASDI 6.2% on first $118,500 eamed: Medicare: 1.45% up to $200,000, 2.35% on earnings above $200,000. OASDI 6.2% on first $118,500 earned: Medicare: 1 .45% on all earnings; FUTA: 0.6% on first $7,000 earned; SUTA. 5.4% on first $7,000 earned