The Alaska Department of Labor and Workforce Development has announced an increase in the taxable wage base for 2010. The wage base will increase from $32,700 for 2009 to $34,100 for 2010. Contact Vision Payroll if you have any questions on Alaska unemployment taxable wage base or visit our Unemployment Taxable Wage Base page.
The Indiana Department of Workforce Development has announced an increase in the taxable wage base for 2010. The wage base will increase from $7,000 for 2009 to $9,500 for 2010. Contact Vision Payroll if you have any questions on Indiana unemployment taxable wage base or visit our Unemployment Taxable Wage Base page.
The Employment Security Division of the Nevada Department of Employment, Training and Rehabilitation has announced an increase in the taxable wage base for 2010. The wage base will increase from $26,600 for 2009 to $27,000 for 2010. Contact Vision Payroll if you have any questions on Nevada unemployment taxable wage base or visit our Unemployment Taxable Wage Base page.
The New Hampshire Department of Employment Security has announced an increase in the taxable wage base for 2010. The wage base will increase from $8,000 for 2009 to $10,000 for 2010. The taxable wage base will also increase to $12,000 for 2011 and $14,000 for 2012. Contact Vision Payroll if you have any questions on New Hampshire unemployment taxable wage base or visit our Unemployment Taxable Wage Base page.
On or before June 30 of each year the Commissioner of the Minnesota Department of Employment and Economic Development must calculate an amount equal to sixty percent of Minnesota’s average annual wage, rounded to the nearest $1,000. This amount is the taxable wage base for the next taxable year. For 2010, the taxable wage base will increase from $26,000 to $27,000. Contact Vision Payroll if you have questions on the Minnesota Taxable Wage Base or visit our Unemployment Taxable Wage Base page.
The Florida Department of Revenue has announced an increase in the taxable wage base for 2010. The wage base will increase from $7,000 for 2009 to $8,500 for 2010. Contact Vision Payroll if you have any questions on Florida unemployment taxable wage base or visit our Unemployment Taxable Wage Base page.
The Arkansas Department of Workforce Services has announced an increase in the taxable wage base for 2010. The wage base will increase from $10,000 for 2009 to $12,000 for 2010. Contact Vision Payroll if you have any questions on Arkansas unemployment taxable wage base or visit our Unemployment Taxable Wage Base page.
Director Darwin Ching of the Hawai‘i Department of Labor and Industrial Relations (DLIR) has announced an increase in the taxable wage base for 2010. The wage base will increase from $13,000 for 2009 to $37,800 for 2010. Contact Vision Payroll if you have any questions on Hawai‘i unemployment taxable wage base or visit our Unemployment Taxable Wage Base page.
The Louisiana Workforce Commission has announced an increase in the taxable wage base for 2010. The wage base will increase from $7,000 for 2009 to $7,700 for 2010. Contact Vision Payroll if you have any questions on Louisiana unemployment taxable wage base or visit our Unemployment Taxable Wage Base page.
The Social Security Administration announced recently that the Maximum Taxable Earnings or Social Security Wage Base would not change for 2010. Since there was no increase in the Consumer Price Index (CPI-W) from the third quarter of 2008 to the third quarter of 2009, the Social Security Wage Base will remain at $106,800. There is no provision for a Cost-of-Living Adjustment (COLA) when there is no increase in the CPI-W. Wages are taxed at 6.2%, so the maximum tax to be paid by each employee will be $6,621.60. About 7% of workers who pay Social Security Tax are expected to reach the maximum in 2010.
For workers under full retirement age, $1 in benefits will be withheld for every $2 above the Retirement Earnings Test Exempt Amount of $14,160 per year or $1,180 per month. The year an individual reaches full retirement age, $1 in benefits will be withheld for every $3 above the Retirement Earnings Test Exempt Amount of $37,680 per year or $3,140 per month. The month an individual reaches full retirement age there is no limit on earnings. These amounts are unchanged from 2009 to 2010.
One amount that did increase for 2010 is that amount needed to earn a Social Security credit, formerly known as a quarter of coverage. In 2009, a credit is earned for every $1,090 of earnings, up to a maximum of four credits. That amount will increase to $1,120 in 2010.
Contact Vision Payroll if you have any questions on the Social Security changes for 2010 or get further information at Important Facts and Figures.
Vision Payroll