The OASDI taxable wage limit increases from $90,000 to $94,200. The tax rate remains 6.2% (with a matching employer contribution).
Medicare taxable wage limit remains unlimited and the tax rate remains 1.45% (with a matching employer contribution.)
The federal income tax exemption increases from $3200 to $3300.
Other tax tables also change as of January 1, 2006. Payroll table changes need to be made (the payroll update includes these tax tabl changes).
The FUTA rate/limit remains unchanged.