Rail Retirement and Unemployment Insurance Taxes 2008

The amounts of compensation subject to railroad retirement tier I and tier II payroll taxes will increase in 2008. However, the tier I tax rate on employees and employers remains unchanged. Under the Railroad Retirement and Survivors’ Improvement Act of 2001, tier II tax rates are determined annually by an average account benefits ratio. Based on this ratio, the tier II tax rates on employees and employers will remain at their 2007 level in 2008. Railroad unemployment insurance tax rates paid by employers will continue to include a 1.5 percent surcharge in 2008.  Read more »

    RELATED ARTICLES

    No posts are directly related to this post.