2013 Key Tax Facts and Rates

Key Tax Facts

 

2013 - FEDERAL TAXES - 2013

Type Of
Tax
Taxable
Wage Base
Employer
Tax Rate
Employee
Tax Rate
Maximum
Employer Tax
Maximum
Employee Tax
Social Security $113,700 6.20% 6.20% $7,049.40 $7,049.40
Medicare NO LIMIT 1.45% 1.45% NO LIMIT NO LIMIT
FUTA(plus surcharge) $7,000 0.60% N/A $42 N/A

 

STATE UNEMPLOYMENT TAXES

State Taxable Wage
Base
Employee Tax
Rate
Comments
       
 NJ $30,900 0.08% Employee taxed on first $30,900 of wages including tips, sick pay and taxable fringe benefits, for NJ Family Leave Tax
NJ $30,900 0.625% Employer pays tax on first $30,900 with rate assigned by state.

 

Visit Payroll-Taxes.com for more details and more states' information.

401k Plan Limits for Plan Year   2013 2012 2009 - 2011
2008 2007 2006
401k Elective Deferrals   $17,500 $17,000 $16,500 $15,500 $15,500 $15,000
Annual Defined Contribution Limit   $51,000 $50,000 $49,000 $46,000 $45,000 $44,000
Annual Compensation Limit   $255,000 $250,000 $245,000 $230,000 $225,000 $220,000
Catch-Up Contribution Limit   $5,500 $5,500 $5,500 $5,000 $5,000 $5,000
Highly Compensated Employees   $115,000 $115,000 $110,000 $105,000 $100,000 $100,000
 
Non 401k Related Limits      
403(b)/457 Elective Deferrals   $17,500 $17,000 $16,500 $15,500 $15,500 $15,000
SIMPLE Employee Deferrals   $12,000 $11,500 $11,500 $10,500 $10,500 $10,000
SIMPLE Catch-Up Deferral   $2,500 $2,500 $2,500 $2,500 $2,500 $2,500
SEP Minimum Compensation   $550 $550 $550 $500 $5000 $450
SEP Annual Compensation Limit   $255,000 $250,000 $245,000 $230,000 $225,000 $220,000
Social Security Wage Base   $113,700 $110,100 106,800 $102,000 $97,500 $94,200
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