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PolicyEngine / policyengine-us

The PolicyEngine US Python package contains a rules engine of the US tax-benefit system, and microdata generation for microsimulation analysis.
https://policyengine.org/us
GNU Affero General Public License v3.0
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Washington State Payroll Taxes for 2023 #4936

Open DTrim99 opened 3 months ago

DTrim99 commented 3 months ago

Washington's Family and Medical Leave Payroll Tax is 0.8% up to the Social Security cap ($160,200). Employers cover 0.22%, and employees cover 0.58%. Employers with less than 50 employees are exempt.

Washington Care's payroll tax is 0.58% (uncapped, withheld from employees).

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PavelMakarchuk commented 3 months ago

I think this prompts a larger discussion around our representation of payroll taxes in the state tax models - we currently have a very simple structure in the state_withheld_income_tax but we could start addressing it more accurately state by state

MaxGhenis commented 3 months ago

Agreed @PavelMakarchuk. We don't currently model any state-level payroll taxes. I can't immediately find whether these count for the SALT deduction.

DTrim99 commented 3 months ago

For 2024, the payroll tax rate is 0.74% up to the 2024 Social Security cap ($168,600). Employers pay 0.21%; employees pay 0.53%.

Reference