| Description |
2015 |
2014 |
2013 |
|---|---|---|---|
| Social Security |
|||
| Taxable Wages |
$118,500 |
$117,000 |
$113,700 |
| Maximum Tax |
$7,347.00 |
$7,254.00 |
$7,049.40 |
| Retirement Plans |
|||
| Compensation Limit |
$265,000 |
$260,000 |
$255,000 |
| Deferral Limit |
$18,000 |
$17,500 |
$17,500 |
| Catch-Up |
$6,000 |
$5,500 |
$5,500 |
| State |
Minimum Wage for 2015 |
|---|---|
| Alabama |
None |
| Alaska |
$8.75 |
| Arizona |
$8.05 |
| Arkansas |
$7.50 |
| California |
$9.00 |
| Colorado |
$8.23 (proposed) |
| Connecticut |
$9.15 |
| Delaware |
$8.25 |
| District of Columbia |
$10.50 |
| Florida |
$8.05 |
| Georgia |
$5.15 |
| Hawaii |
$7.75 |
| Idaho |
$7.25 |
| Illinois |
$8.25 |
| Indiana |
$7.25 |
| Iowa |
$7.25 |
| Kansas |
$7.25 |
| Kentucky |
$7.25 |
| Louisiana |
None |
| Maine |
$7.50 |
| Maryland |
$8.25 |
| Massachusetts |
$9.00 |
| Michigan |
$8.15 |
| Minnesota |
$9.00 |
| Mississippi |
None |
| Missouri |
$7.65 |
| Montana |
$8.05 |
| Nebraska |
$8.00 |
| Nevada |
$8.25; $7.25 with health benefits |
| New Hampshire |
$7.25 |
| New Jersey |
$8.38 |
| New Mexico |
$7.50 |
| New York |
$8.75; $9.00 (eff. 12/31/15) |
| North Carolina |
$7.25 |
| North Dakota |
$7.25 |
| Ohio |
$8.10 |
| Oklahoma |
$7.25 |
| Oregon |
$9.25 |
| Pennsylvania |
$7.25 |
| Puerto Rico |
$7.25 (Exceptions Apply) |
| Rhode Island |
$9.00 |
| South Carolina |
None |
| South Dakota |
$8.50 |
| Tennessee |
None |
| Texas |
$7.25 |
| Utah |
$7.25 |
| Vermont |
$9.15 |
| Virginia |
$7.25 |
| Washington |
$9.47 |
| West Virginia |
$8.00 |
| Wisconsin |
$7.25 |
| Wyoming |
$7.15 |
Rates are effective January 1, 2015, unless otherwise noted. Minimum hourly wages for tipped employees by state can be found on the Department of Labor’s website at http://www.dol.gov/whd/state/tipped.htm.
