Transcription of EFFECTIVE JANUARY 1, 2022
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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.
New Hire Reporting Requirements All employers in the states of New Jersey and Pennsylvania are required to report basic information about employees who are newly hired, rehired and returning to work after separation of employment or leave of absence, temporary employees, and contracted entities. Employers must report this information within 20 days
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