MINIMUM WAGE | |
MINIMUM WAGE (ARKANSAS) | $11.00 |
MINIMUM WAGE (TIPPED EMPLOYEE) | $2.63 |
| MEDICARE | |
MAXIMUM TAXABLE EARNINGS | No limit |
| EMPLOYER TAX RATE | 1.45% |
EMPLOYEE TAX RATE | 1.45% |
ADDITIONAL MEDICARE TAX ON WAGES OVER $200,000 (NO EMPLOYER MATCH) | 0.90% |
SOCIAL SECURITY | |
MAXIMUM TAXABLE EARNINGS | $168,600 |
EMPLOYER TAX RATE | 6.20% |
EMPLOYEE TAX RATE | 6.20% |
SUPPLEMENTAL / BONUS TAX RATES | |
FLAT RATE WITHOLDING FOR FEDERAL INCOME TAX | 22% |
PAY OVER $1,000,000 | 37% |
ARKANSAS FLAT WITHHOLDING RATE | 4.4% |
ARKANSAS UNEMPLOYMENT | |
MAXIMUM TAXABLE EARNINGS | $7,000 |
EMPLOYER TAX RATES | 0.1% - 14% |
STANDARD NEW EMPLOYER RATE | 2.025% |
FEDERAL UNEMPLOYMENT | |
MAXIUMUM TAXABLE EARNINGS | $7,000 |
NET TAX AMOUNT | 0.60% |
| MAXIMUM PER EMPLOYEE | $42.00 |
HEALTH SAVINGS ACCOUNTS (HSA'S) | |
SELF ONLY CONTRIBUTION LIMIT (EMPLOYEE/EMPLOYER) | $4,150 |
FAMILY CONTRIBUTION LIMIT (EMPLOYEE/EMPLOYER) | $8,300 |
| CATCH UP CONTRIBUTION (AGE 55 & OVER) | $1,000 |
FLEXIBLE SPENDING ACCOUNTS (FSA'S) | |
HEALTHCARE | $3,200 |
LIMITED PURPOSE | $3,200 |
DEPENDENT CARE | $5,000 |
401(K) | |
EMPLOYEE CONTRIBUTION LIMIT | $23,000 |
CATCH UP CONTRIBUTION LIMIT (AGE 50 & OVER) | $7,500 |
| ***EXEMPT FROM FIT WITHHOLDING - SUBJECT TO SOCIAL SECURITY & MEDICARE*** |
SIMPLE IRA | |
EMPLOYEE CONTRIBUTION LIMIT | $16,000 |
CATCH UP CONTRIBUTION LIMIT (AGE 50 & OVER) | $3,500 |
MILEAGE REIMBURSEMENT | |
STANDARD MILEAGE RATE | $0.67 PER MILE |
SECTION 125 INSURANCE DEDUCTIONS |
SECTION 125 DEDUCTIONS ARE EXEMPT FROM FEDERAL WITHHOLDING, STATE WITHHOLDING, SOCIAL SECURITY AND MEDICARE |
| SOCIAL SECURITY AND MEDICARE EXEMPTIONS APPLY TO EMPLOYEE AND EMPLOYER |