2024 Tax Rates
The tax rates for Tax Schedule III are as follows:
| Taxable minimum rate: | 0.9% |
| Taxable maximum rate: | 5.4% |
| Taxable base tax rate: | 2.4% (new employer rate) |
| Special payroll tax offset: | 0.109% (0.00109) for 1st quarter |
|
0.109% (0.00109) for 2nd quarter |
| 0.109% (0.00109) for 3rd quarter |
| 0.109% (0.00109) for 4th quarter |
The taxable wage base for 2024 is $52,800
2025 Tax Rates
The tax rates for Tax Schedule III are as follows:
| Taxable minimum rate: | 0.9% |
| Taxable maximum rate: | 5.4% |
| Taxable base tax rate: | 2.4% (new employer rate) |
| Special payroll tax offset: | 0.109% (0.00109) for 1st quarter |
|
0.109% (0.00109) for 2nd quarter |
| 0.109% (0.00109) for 3rd quarter |
| 0.109% (0.00109) for 4th quarter |
The taxable wage base for 2025 is $54,300