2007-05-30 15:59:01 · 4 answers · asked by appledumpling 2 in Business & Finance ➔ Taxes ➔ United States
There is no state tax in TX, so you only have the SS/Med (7.65%) and federal withholding (dependent on what you claim on the w-4 and how much you make).
2007-05-30 16:04:27 · answer #1 · answered by Brian G 6 · 1⤊ 0⤋
There are no state taxes taken out of a paycheck in Texas. Social Security tax (6.2%) and Medicare tax (1.45%) are taken out until you reach the SS earnings limit. Federal Income tax % taken out depends on the exemptions and status that you claim on your W-4.
2007-05-30 16:06:48 · answer #2 · answered by aj485 5 · 0⤊ 0⤋
TX has no income tax. Only Federal Income Tax and FICA are withheld. FICA is withheld at 7.65% on the first $97,500 in wages and 1.45% for all wages above that amount. Federal Income Tax is a graduated tax and will vary from 0% to 35% depending upon your gross wage, filing status and number of withholding exemptions.
Go here for some handy tax estimators: http://www.paycheckcity.com
2007-05-30 16:05:47 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
The Social Security tax rate is 6.2% of the first $106,800 in wages for 2010. It's the same nation-wide. Add 1.45% of all wages for the Medicare tax. BTW, SSI is not Social Security. SSI is a federal welfare program for disabled individuals with insufficient earnings to qualify for Social Security Disability.
2016-05-17 09:22:06 · answer #4 · answered by ? 3 · 0⤊ 0⤋