Parrish and Peterson Accountancy Corporation
1155 Meridian Ave, San Jose, CA, 95125
408.265.1020 (fax) 408.265.6795
 
2000 Payroll Tax Deduction Information

FIT - Use charts in the 2000 Federal Circular E "Employer's Tax Guide"
 

FICA - Social Security

- Employee Deduction: 6.2%, maximum wages $76,200, maximum tax withheld $4,724.40

- Employer Portion: 6.2%, maximum wages $76,200, maximum tax paid $4,724.40.
 

FICA - Medicare

- Employee deduction: 1.45% on all wages, no ceiling amount.

- Employer portion: 1.45% on all wages, no ceiling amount.
 

FUTA - .008 maximum wages $7,000.00; maximum tax $56.00.

 

 

The CPA. Never Underestimate The Value sm.