Updated information:
- NJ Disability and Family Leave wage limit is increasing to $134,900 (from $34,400 in 2018).
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The 2020 tax rates have been announced. These are the rates for many of the Federal and State deductions in your paycheck. The 2020 tax rates are as follows:
The Social Security tax rate for employees is 6.2% through the end of 2020, with maximum taxable earnings of $137,700. (Source: Social Security Administration website.)
The Medicare tax rate is 1.45% with no maximum wage-base limit.
Please note that as of 2013, wages paid in excess of $200,000 to high-earner employees will be subject to an extra 0.9% Medicare tax that will be withheld from those employees’ wages.
Major changes in NJ Disability and Family Leave contributions for 2020:
- NJ Disability and Family Leave wage limit is increasing to $134,900 (from $34,400 in 2018).
- NJ Employee Disability rate will increase from .0017% to .0026%.
- NJ Family Leave Act rate will increase from .0008% to .0016%.
- NJ Unemployment wages will increase from $34,400 to $35,300. Rates will remain the same.
- PA State Personal Income Tax rate is 3.07%.
- PA State Unemployment Tax rate is .0006% on all wages.
- City of Philadelphia Wage Tax rate is 3.8712% for Philadelphia residents.
Additional payroll tax information can be found on the Pulse under Departments/Finance/Payroll.