What is a 2024 tax withholding table?

2024 withholding tables. The Percentage Method and Wage Bracket Method withholding tables, the employer instructions on how to figure employee withholding, and the amount to add to a nonresident alien employee's wages for figuring income tax withholding are included in Pub. 15-T, Federal Income Tax Withholding Methods, available at IRS.gov/Pub15T.

What is the Social Security tax rate for 2024?

Social security and Medicare tax for 2024. The rate of social security tax on taxable wages is 6.2% each for the employer and employee. The social security wage base limit is $168,600. The Medicare tax rate is 1.45% each for the employee and employer, unchanged from 2023. There is no wage base limit for Medicare tax.

What is FUTA tax 2024?

Figuring FUTA tax. For 2024, the FUTA tax rate is 6.0%. The tax applies to the first $7,000 you pay to each em-ployee as wages during the year. The $7,000 is the federal wage base. Your state wage base may be different. Generally, you can take a credit against your FUTA tax for amounts you paid into state unemployment funds.