2019 PAYROLL & TAX-RELATED REGULATORY CHANGES
In 2019, around 20 states have updated their minimum wage. Is your state one of them?
For that information, plus tax rates and more, scroll down to find all the changes that will affect your small business this year. Looking for 2018's information? Click here.
Stay updated on the latest payroll and tax regulations with the following:
- State-by-State Quick Wage and Tax Guide for 2019
- Each State's Current Wage and Tax Information
- Social Security Taxable Wage Base and Tax Rates
- Medicare Taxable Wage Base and Tax Rates
- FUTA Taxable Wage Base and Tax Rate
- Federal and State Minimum Wage Rates
- Pension Limits for Contributing to 401(k) Plans and SIMPLE IRAs
All guides were published on January 14, 2019. Please check back for updates.
FREE Download: The Full 2019 Quick Wage & Tax Guide
Download the complete, state-by-state guide for free by clicking here:
State-by-State: Current Wage & Tax Info
Federal Wage & Tax Rates
Social Security's Old-Age, Survivors, and Disability Insurance (OASDI) program limits the amount of earnings subject to taxation for a given year. This limit is adjusted each year with changes in the national average wage index. This annual limit is called the contribution and benefit base.
For earnings in 2019 (increased by more than 3% from 2018), the Social Security taxable wage base is $132,900.
FICA - Social Security (OASDI Only) [top]
|Social Security Taxable Wage Base per Employee||$132,900|
|Employer Tax Rate for Social Security||6.2%|
|Employee Tax Rate for Social Security||6.2%|
FICA – Medicare(Hospital Insurance Only) [top]
|Medicare Taxable Wage Base per Employee||No Limit|
|Employer and Employee Tax Rate for Medicare||1.45%|
|Additional Tax on Earning > $200K||0.9%|
FUTA – Federal Unemployment Tax Act [top]
|FUTA Taxable Wage Base per Employee||$7,000|
|Employer Net Tax Rate||0.6%|
Federal Minimum Wage Rates [top]
Below are the federal minimum wage rates. Please note that some states have minimum wages that are higher than federal rates. Effective 7/24/2009.
|Minimum Wage||Tipped Employee: Min. Wage||Tip Credit (MAX)|
For information on state minimum wage rates, head to the Department of Labor’s website by clicking here: State minimum wage rates.
Pension Plan Limits [top]
The federal government sets dollar limits as to how much an employee can contribute to their company’s qualified retirement plan each tax year. These limits are based on the cost-of-living index. If an employee reaches the age of 50 during the current tax year, they will qualify for the “Catch-Up Provision"… only if it is an established provision of the company’s 401(k) plan.
Some of these limits have updated from 2018.
|401(k) Limit for 2019||$19,000||$6,000|
|SIMPLE IRA Plan for 2019||$13,000||$3,000|