Calculating Excess Wages
Excess Wage Base for 2007 is $25,400
| | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Total |
John
Excess | $6,000.00
$0.00 | $6,000.00
$0.00 | $6,000.00
$0.00 | $6,000.00
$0.00 | $24,000.00
$0.00 |
Mary
Excess | $12,000.00
$0.00 | $12,000.00
$0.00 | $12,000.00
$10,600.00 | $12,000.00
$12,000.00 | $48,000.00
$22,600.00 |
Sue
Excess | $1,000.00
$0.00 | $1,000.00
$0.00 | $1,000.00
$0.00 | $1,000.00
$0.00 | $4,000.00
$0.00 |
| Total Wages | $19,000.00 | $19,000.00 | $19,000.00 | $19,000.00 | $76,000.00 |
| Excess Wages | $0.00 | $0.00 | $10,600.00 | $12,000.00 | $22,600.00 |
| Taxable Wages | $19,000.00 | $19,000.00 | $8,400.00 | $7,000.00 | $53,400.00 |
Contributions (Taxes) are Not paid on wages in excess of $25,400 for each employee.
