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Calculating Excess Wages

Please see the following table for an example of how to calculate excess wages.

Excess Wage Base for 2024 is $47,000.00

Employee 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Total
John
Excess Wages 		$11,500.00
$0.00 		$11,500.00
$0.00 		$11,500.00
$0.00 		$11,500.00
$0.00 		$46,000.00
$0.00
Mary
Excess Wages 		$23,000.00
$0.00 		$23,000.00
$0.00 		$23,000.00
$22,000.00 		$23,000.00
$23,000.00 		$92,000.00
$45,000.00
Sue
Excess Wages 		$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 $35,500.00 $35,500.00 $35,500.00 $35,500.00 $142,000.00
Excess Wages $0.00 $0.00 $22,000.00 $23,000.00 $45,000.00
Taxable Wages $35,500.00 $35,500.00 $13,500.00 $12,500.00 $97,000.00

* Contributions (taxes) are not paid on wages in excess of $47,000.00 for each employee.