The 2017 tax rates have been announced. These are the rates for many of the Federal and State deductions in your paycheck. The 2017 tax rates are as follows:
- The Social Security Tax rate for employees is 6.2 percent through the end of 2017, with maximum taxable earnings of $127,2 (Source: Social Security Administration website.)
- The Medicare Tax rate is 1.45 percent 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 percent Medicare Tax that will be withheld from those employees’ wages.
- The NJ Unemployment and Disability wage limit is increasing to $33,500 (from $32,600 in 2016).
- The NJ Disability Tax rate is increased from .0020 percent to .0024 percent.
- The NJ Family Leave Act rate increased from .0009 percent to .0010
- The PA State Personal Income Tax rate is 3.07 percent.
- The PA State Unemployment Tax rate is .07 percent. Taxable wage limit is $9,75
- The City of Philadelphia Wage Tax rate is 3.9004 percent for Philadelphia residents and 3.4741 percent for non-residents.
Information concerning Earned Income Tax credits and other additional payroll tax information can be found on the portal under Departments/Finance/Payroll.