2007-01-18 12:53:43 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Joy has it right on, 6.2% for FICA or Social Security and 1.45% for Medicare. See publication 15 from the IRS.
Additionally you will have state taxes withheld for state and local income taxes and state disability tax if applicable.
The W-4 only applies for the Federal Income Tax.
2007-01-18 13:41:00 · answer #1 · answered by KingGeorge 5 · 1⤊ 0⤋
Tax exempt only relieves you of your Federal Withholding Tax.
Other Federal, State and Local taxes will still be assessed.
2007-01-18 20:58:55 · answer #2 · answered by chieromancer 6 · 2⤊ 0⤋
I believe it would only be FICA (social security & medicare) and any particular state taxes (like in WA we have Labor & Industry, CA has SDI, etc.). Going tax exempt just relieves you of Federal withholding from your pay (not on your tax return though).
2007-01-18 20:59:44 · answer #3 · answered by aramcobratang 3 · 1⤊ 0⤋
6.2% Social Security
1.45% Medicare
2007-01-18 20:58:46 · answer #4 · answered by birdwatcher 4 · 0⤊ 0⤋