Chicago, IL (PRWEB) January 10, 2013
The Internal Revenue Service and a number of state departments of revenue have updated the payroll tax rates for 2013. Real Business Solutions, updated Payroll Mate software to reflect these and other changes in the payroll tax regulations for 2013. Employers can try Payroll Mate 2013 risk-free by visiting : http://www.PayrollMate.com/
For 2013, the employee tax rate for social security increases to 6.2%. The social security wage base limit increases to $113,700. The IRS also released new Percentage Method Tables for 2013 Income Tax Withholding. The Medicare tax rate is 1.45% each for the employee and employer, unchanged from 2012. In addition to withholding Medicare tax at 1.45%, employers must also withhold a 0.9% Additional Medicare Tax from wages paid to an employee in excess of $200,000 in a calendar year.
The following states have also released new payroll tax updates for 2013: Alabama, Alaska, California, Colorado, Connecticut, Georgia, Hawaii, Idaho, Illinois, Iowa, Kansas, Kentucky, Maine, Maryland, Minnesota, Montana, Nebraska, Nevada, New Jersey, New Mexico, New York, North Carolina, North Dakota, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Utah, Washington, Wisconsin and Wyoming.
Payroll Mate software highlights:
Give the 2013 Payroll Mate software a test drive and see for yourself how easy managing payroll can be. Visit Payroll Mate payroll software page by pointing your browser to http://www.PayrollMate.com