| Minimum Wage |
2012
|
2011
|
|
Federal |
U.S. Department of Labor |
U.S. Department of Labor |
|
Arizona |
AZ Department of Labor |
AZ Department of Labor |
|
Minnesota |
MN Department of Labor |
MN Department of Labor |
|
| FICA (Social Security) |
|
Max Taxable Earnings |
$110,100 |
$106,800 |
|
Employee/Employer % |
4.2%/6.2% |
4.2%/6.2% |
|
Max Deduction |
$6,826.20 |
$4,485.60 |
|
| FICA (Medicare) |
|
Max Taxable Earnings |
No Max |
No Max |
|
Employee/Employer % |
1.45% |
1.45% |
|
Max Deduction |
No Max |
No Max |
|
| FUTA |
|
Max Taxable Earnings |
$7,000 |
$7,000 |
|
% of Taxable Earnings |
6.2% |
1/1-6/30: 6.2%
7/1-12/31: 6.0%
|
|
Max Credit |
5.4% |
5.4% |
|
Normal Net Tax |
0.9% |
1/1-6/30: 0.8%
7/1-12/31: 0.6%
|
|
| Unemployment Insurance |
|
AZ Taxable Wage Base |
$7,000 |
$7,000 |
|
MN Taxable Wage Base |
$28,000 |
$27,000 |
|
Employee Deduction |
None |
None |
|
| Supplemental Wage/Bonus Rate |
|
Federal Flat |
25% |
25% |
|
Arizona Flat |
No flat rate provision |
No flat rate provision |
|
Minnesota Flat |
6.25% |
6.25% |
|
| Standard Mileage Rate |
|
Rate |
$.555 per mile |
$.51 per mile thru June
|
|
|
|
$.555 per mile - July 1 |
|
| Deferral Amounts |
|
Max 401(k)/403(b) Elective Amount |
$17,000 |
$16,500 |
|
Catch-Up Contributions (50+) |
$5,500 |
$5,500 |
|
Max HSA Contribution Single |
$3,100 |
$3,050 |
|
Max HSA Contribution Family |
$6,250 |
$6,150 |
|
SIMPLE Plan Employee Amount |
$11,500 |
$11,500 |
|
SIMPLE Catch-Up Contributions (50+) |
$2,500 |
$2,500 |
|
| Federal Reserve Holidays |
|
New Year’s Day |
Monday, January 2nd
|
Saturday, January 1st
|
|
Martin Luther King Jr. Day |
Monday, January 16th
|
Monday, January 17th
|
|
President's Day |
Monday, February 20th
|
Monday, February 21st
|
|
Memorial Day |
Monday, May 28th
|
Monday, May 30th
|
|
Independence Day |
Wednesday, July 4th
|
Monday, July 4th
|
|
Labor Day |
Monday, September 3rd
|
Monday, September 5th
|
|
Columbus Day |
Monday, October 8th
|
Monday, October 10th
|
|
Veteran’s Day |
Monday, November 12th
|
Friday, November 11th
|
|
Thanksgiving Day |
Thursday, November 22nd
|
Thursday, November 24th
|
|
Christmas Day |
Tuesday, December 25th
|
Monday, December 26th
|
|
| Common Phone Numbers and Websites |
|
IRS |
www.irs.gov |
800-829-4933 |
|
EFTPS |
www.eftps.gov |
800-555-8778 |
|
SSA |
www.ssa.gov |
800-772-1213 |
|
MN SITW |
www.taxes.state.mn.us |
651-282-5225 |
|
MN SUI (PCS is agent AG000002) |
www.uimn.org |
651-296-6141 |
|
| Tax Wiithholding Due Dates (State/Fed) |
|
Check Date Wed - Fri |
Due Following Wednesday |
|
Check Date Sat - Tues |
Due Following Friday
|
|
