2012 FICA & FUTA LIMIT & PERCENTAGE RATES

 

Before running a payroll for a new calendar year (2012), the MTD, QTD and YTD (from 2011) on the employees’ records must be cleared out.  Running the Clear YTD, QTD, MTD Emp/Recurring­ program does this.  Go to:

Clearing these fields will not interfere with the running of W-2s for 2011, since the information for the W-2s come from the Payroll History. Note:  If these fields are not cleared, the current year’s wages (2012) that print on the check stub will also include the wages from the prior year (2011).

 

 

FICA fields are found in:

 

ADDITIONAL NOTE:  Field 5: FICA Maximum needs to be the 2011 amount of $106,800.00 when the 2011 W2’s are printed and when the payroll reports are printed for the 2011 4th quarter.

 

 

Verify the 2012 FUTA % & maximum:

 

 

STATE: