Tax News Update    Email this document    Print this document  

February 7, 2024
2024-0352

Our US employment tax rates and limits report for 2024 is now available

The 2024 edition of our US employment tax rates and limits report is now available to reflect the current federal and state wage limits and tax rates.

You can download the 2024 report here.

Our report, US employment tax rates and limits for 2024 includes:

  • Social Security wage base for 2024
  • Qualified pension plan limits for 2024
  • Health Savings Account limits for 2023 and 2024
  • Fringe-benefit inflation adjustments and Form W-2 penalties for 2024
  • Federal mileage rates and luxury vehicle limits for 2024
  • Per diem rates under high-low substantiation method for 2024
  • 2022 — 2023 federal unemployment insurance (FUTA) credit reduction
  • State unemployment insurance wage base limits and tax rates for 2024
  • Disability and paid family leave insurance wage base and rates for 2024
  • Federal income tax withholding for 2024
  • State income tax withholding and supplemental withholding rates for 2024 with links to the most current withholding formulas

Note that state rates and limits can change throughout the year, so follow this page for the most current updates.

For the 2019 final rates and limits, view our publication, US employment tax rates and limits for 2019.

For the 2020 final rates and limits, view our publication, US employment tax rates and limits for 2020.

For the 2021 final rates and limits, view our publication, US employment tax rates and limits for 2021.

For the 2022 final rates and limits, view our publication, US employment tax rates and limits for 2022.

For the 2023 final rates and limits, view our publication, US employment tax rates and limits for 2023.

* * * * * * * * * *
Contact Information

For additional information concerning this Alert, please contact:

Workforce Tax Services - Employment Tax Advisory Services

Published by NTD’s Tax Technical Knowledge Services group; Andrea Ben-Yosef, legal editor
 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 1996 – 2024, Ernst & Young LLP

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

EY US Tax News Update Master Agreement | EY Privacy Statement