| Payroll Contributions | Cost |
|---|---|
|
FICA Social Security (federal) |
6.20% (maximum taxable wages is USD 160,200) |
|
FICA Medicare |
1.45% |
|
FICA Additional Medicare |
0.9% (on an individual’s wages paid in excess of $200,000 in a calendar year) |
|
Federal Unemployment Tax (FUTA) |
0.6% (when states operate their unemployment insurance programs in compliance with federal law) |
|
SUTA (State Unemployment Tax) |
1.96% |
|
SUTA New Employer Tax |
2.90% |
|
Total payroll cost |
14% |
* The payroll cost figures and calculations presented herein are based on the most recent information from official government sources in Puerto Rico. However, these figures, including but not limited to minimum wage, tax rates (FICA, FUTA, SUTA), and overtime regulations, are subject to change as per amendments to Puerto Rican laws and regulations. Therefore, the information provided should be used as a general guideline only.
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