2007 Federal Wage Base Information
| Federal Payroll & Wage Information for 2007 | |
| Minimum Wage: | $5.15 |
| Minimum Cash Wage: (tipped EE's) | $2.13 |
| Maximum Tip Credit | $3.02 |
| Youth Sub-Minimum Wage: | $4.25 |
| FICA (Social Security) | |
| Maximum Taxable Earnings: | $97,500 |
| EE / ER Deduction: | 6.20% |
| Maximum Deduction: | $6,045 |
| Self-Employment Tax | 12.40% |
| FICA (Medicare) | |
| Maximum Taxable Earnings: | No Limit |
| EE / ER Deduction: | 1.45% |
| Maximum Deduction: | No Limit |
| Self-Employment Tax | 2.90% |
| FUTA (employer paid) | |
| Maximum Taxable Earnings: | $7,000 |
| Percent of Taxable Wages: | 6.20% |
| Maximum Credit: | 5.40% |
| Normal Net Tax: | 0.80% |
| Supplemental Wages | |
| Flat Rate | 25% |
| Pay Over One Million Dollars | 35% |