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Federal Unemployment Tax Act (FUTA) Updates for 2020

For budgeting purposes, you should assume a 0.6% FUTA rate on the first $7,000 in wages for all states unless you will be working in the U.S. Virgin Islands (USVI), in which case, you should assume a 3.3% rate.
07 January 2020

News, Budgets, 2020 Updates

2020 FICA Increase

The Social Security wage base has increased from $132,900 to $137,700 for 2020, which increases the maximum individual contribution by $297.60.
06 January 2020

News, Tax, 2020 Updates

State and Local Gross Receipts-Based Taxes and/or Sales Tax Updates

A gross receipts tax is similar to a sales tax, but it is levied on the seller of goods or consumer services. Currently, 12 states require us to collect these taxes on our payroll handling fees.
20 December 2019

News, Budgets, 2020 Updates

New Federal Form W-4 to Take Effect 1/1/2020

The new W-4 will ask employees for specific amounts of income and deductions, and withholding allowances will no longer be used.
20 December 2019

News, 2020 Updates

Minimum Wage Increases for 2020

A number of states have announced minimum wage increases for 2020. More changes could be announced, so employers should continue to monitor the rates for further changes.
19 December 2019

News, Budgets, 2020 Updates