Payroll Tax Calculator
Calculate comprehensive employer and employee payroll taxes, FICA withholdings (Social Security & Medicare), FUTA federal unemployment, and state SUTA obligations.
Payroll Liabilities & Net Pay
Comprehensive Payroll Tax Formulas
Employee FICA = 6.2% SS (up to $168,600 cap) + 1.45% Medicare | Employer FICA Match = 6.2% SS + 1.45% Medicare | Employer Unemployment = 0.6% FUTA + SUTA %- Social Security: 6.2% withheld from employee wages and 6.2% paid by employer on earnings up to $168,600 in 2024.
- Medicare: 1.45% withheld from employee wages and 1.45% matched by employer with no earnings cap.
- Federal Unemployment (FUTA): 0.6% effective employer tax on the first $7,000 of each worker’s annual earnings.
- State Unemployment (SUTA): Employer state tax rate based on state experience rating.
Step-by-Step Worked Example
Calculation Steps:
How to Use This Calculator
Assumptions & Limitations
- Calculations use the 2024 Social Security wage base limit of $168,600.
Frequently Asked Questions
Do employers pay half of FICA taxes?
Yes. FICA is split equally: employees pay 7.65% (6.2% SS + 1.45% Medicare) via paycheck deductions, and employers pay a matching 7.65% out of company funds.
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Calculate true total employer labor costs beyond gross base salary, modeling matching FICA, FUTA, state SUTA, workers comp, and employee benefits.
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