Social Security Wage Base Increases For 2012

The wage base increases to $110,100. that is up from $106,800. for 2012. This is the first increase since 2009. In other words the maximum you still pay 6.2% social secuirty on is $110,100. The 1.45% medicare tax is paid without any limit on all taxable earnings.
For people receiving social security benefits there will be a 3.6% cost of living increase for benefits and coverage.

Insolvent Unemployment Trust Funds & Interest Assessment Surcharge

Recently NJS & NYS have issued invoices to ALL employers explaining that they borrowed money from the federal government to pay their insolvent unemployment rust funds. These states and others passed the charge on to the employers in their states. Each employer must pay a certain amount based on the size of their payroll.

Connecticut raises personal withholding tax rates

Conecticut is raising the personal income tax table's on 8/1/2011. Tax will be retoractive to 1/1/11

New NYS reporting requirements goes into effect 7/15/11

New reporting requirements go into effect July 15th, 2011. The legislation requires employers to report if dependent health insurance benefits are available to an employee when reporting newly hired or rehired employees under the New Hire Reporting program.
This information is also required on the quarterly form NYS45