The Payroll Factory, Inc. February 2023 Newsletter.
Welcome to February. Your clients should have distributed to their employees the 2022 W-2’s and 1099’s on or before Tuesday January 31st, 2023.
Philadelphia reconciliations for
2022 are due to the city on or before Monday April 17th, 2023.
FUTA is still at 6%, the maximum
taxable wage base remains unchanged at the first $7000.00 of wages. The tax base remains at 6% credit for state
unemployment at 5.4% with an effective rate at 0.6%.
New Jersey Unemployment Insurance
maximum 2023 taxable earnings is $41,100.
The employee Unemployment
Insurance deduction percentage is 0.425%.
The 2023 maximum employee
deduction is $174.68.
New Jersey Disability Insurance
maximum 2023 taxable earnings for an employee is $156,800.
New Jersey 2023 taxable earnings
for an employer equates to $41,100.
New Jersey Family Leave Insurance
2023 percentage is 0.06%
The maximum deduction for Family
Leave Insurance in 2023 for an employee equates to $94.06.
Please feel free to circulate this newsletter with your staff and clients. As always “whatever it takes,” I look forward to working with you, your associates and above all your clients.
Sincerely,
Steve Sabel
Senior Account Relationship Manager
The Payroll Factory, Inc.
18 East Lancaster Avenue
Malvern, Pennsylvania 19355
267-907-4179 cell
steve@prfusa.com
www.thepayrollfactory.com
