Rates

Use these processing options to specify the rates the system processes for the report.

1. Employee Social Security Rate

Specify the Employee Social Security rate. Enter this rate as a decimal fraction. For example, enter .042 for 4.2 percent.

2. Employer Social Security Rate

Specify the Employer Social Security rate. Enter this rate as a decimal fraction. For example, enter .042 for 4.2 percent.

3. Medicare Rate

Specify the Medicare rate. Enter the rate as a decimal fraction. For example, enter .0145 for 1.45 percent.

4. Additional Medicare Rate (Release 9.2 Update)

Specify the rate associated with Additional Medicare Tax (.009 in 2020). You are required to begin withholding Additional Medicare Tax in the pay period in which you pay wages in excess of $200,000 for the year 2020 to an employee and continue to withhold it each pay period until the end of the calendar year. The Additional Medicare tax is imposed only on the employee.