The following payroll tax rates tables are from IRS Publication 15 T. The tables include federal withholding for year 2023 (income tax), FICA tax, Medicare tax and FUTA taxes.
Tax
Maximum Earnings
Rate
Social Security Tax
$160,200.00
6.20% for the employee and 6.2% for employer
Medicare
Unlimited
1.45% for employee and employer
over $200,000 ($250,000 for married couples filing jointly)
Additional 0.9% for the part in excess of $200,000 in a calendar year. Employee only.
For 2019 and earlier W-4
Deductions per dependent: $4,300.00 if the Form W-4 is from 2019 or earlier, or if the Form W-4 is from 2020 or later and the box in Step 2 of Form W-4 is NOT checked.
For 2020 and later W-4
If the box in W4 Step 2 is not checked, substract standard $12,900 for married filling jointly, $8,600 for single or head of household. If box in W4 Step 2 is checked, 0 decuction.
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STANDARD Withholding Rate Schedules (Use these if the Form W-4 is from 2019 or earlier, or if the Form W-4 is from 2020 or later and the box in Step 2 of Form W-4 is NOT checked.)
If the Adjusted Annual Wage Amount (line 2a) is at least ...
but less than...
The tentative amount to withhold is
Plus this percentage...
of the amount that the Adjusted Annual Wage exceeds