The OASDI taxable wage limit increases from $87,000 to $87,900. 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 remains at $3100 (not changed since July 1, 2003).
There are no federal tax table changes as of January 1, 2004.
The FUTA rate/limit remains unchanged.
W-2 and W-3 forms have changed for 2004 requiring an update.