EFFECTIVE JANUARY 1, 2022

The Alloy Silverstein Group strives to provide the information you need to run your business are important payroll tax figures and changes that affect employers for 2022. EFFECTIVE JANUARY 1, 2022:Minimum WageThe EFFECTIVE rates per hour for 2022 are: Federal $ EFFECTIVE 7/24/09 New Jersey $ EFFECTIVE 1/1/22 Pennsylvania $ EFFECTIVE 7/24/09 Social Security/MedicareThe wage base increases to $147,000 for Social Security and remains UNLIM-ITED for Medicare. For Social Security, the tax rate is for both employers and employees. (Maximum Social Se-curity tax withheld from wages is $9,114 in 2022). For Medicare, the rate remains unchanged at for both employers and Medicare TaxA additional Medicare tax must be withheld from an individual s wages paid in excess of $200,000 in a calendar year. There is no employer match for the additional Medicare Unemployment TaxThe wage base remains at $7,000.

City of Philadelphia Wage Tax Effective July 1, 2021 tax rates are 3.8398% for Philadelphia residents and 3.4481% for nonresidents. These rates are adjusted by the City of Philadelphia on July 1 of each year. 401(K) Plan Limits The maximum employee pretax con-$20,500 in 2022. $6,500 for individuals age 50 or older. SIMPLE Plan Limits-

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