News Archives for December of 2011

Happy Holidays!

From all of us at City Personnel we would like to wish you a happy holiday season and all the best in the new year!

Taxes Spiked for the New Year

With 2012 peeking at us from around the corner its no surprise that this morning we received the latest tax increase memo.  I wish the news were better folks, but it looks like we're going to take a moderate hit in the new year from our friends over in the division of taxation.  They always get what they want don't they?

The Social Security Administration announced recently that as of 2012 the Employee social security rate will increase to 6.2% of all taxable earnings.  All the employers out there can breathe a sigh of relief though.  Your taxes will not be raised, they will stay at the current rate of 6.2%.  In additional the maximum amount of earnings subject to said tax will increase to $110,00.

While no state will be exempted from this tax, some states will have some happy employed citizens come January 1st.  The following states have announced a minimum wage increase: (Spoiler Alert: RI is not on the list)

• Arizona, to $7.65 per hour for non-tipped employees and $4.65 per hour for tipped employees
• Florida, to $7.67 per hour for non-tipped employees and $4.65 per hour for tipped employees
• Montana, to $7.65 per hour for non-tipped and tipped employees (applies to employers with annual
• sales exceeding $110,000)
• Ohio, to $7.70 per hour for non-tipped employees and $3.85 for tipped employees (will apply to
• employers who gross more than $283,000 per year beginning in 2012)
• Oregon, to $8.80 per hour for non-tipped and tipped employees
• Vermont, to $8.46 per hour for non-tipped employees and $4.10 for tipped employees
• State of Washington, to $9.04 per hour for non-tipped and tipped employees.