Information for Employers regarding how and when deductions can be made.
New Hampshire Employer Training Memo - Payroll Deductions
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FAQ
By law, your employer is permitted to deduct wages for taxes for state and federal income, social security, and state disability insurance obligations. You can control how much is deducted by claiming allowances on a W4.
What Can Be Deducted From Employee Wages?Payroll taxes;Retirement plan contributions;Social security contributions;Benefit plan contributions, such as the employee portion of health insurance premiums;Other items for the employee's benefit or for which the employee gives written consent, such as union dues;More items...?
New Hampshire has no income tax on wages, though the state does charge a 5% tax on income from interest and dividends.
Allowable Paycheck DeductionsPersonal loans (cash advances, 401(k) or retirement loan payment, bail or bond payments, etc.)Personal purchases of a business's goods or services such as: Food purchases from the cafeteria.Employee's health, dental, vision, and other insurance payments or co-payments.
The law on wage deductionsTaking money from wages without consent or contractual provision can result in a claim for unlawful deduction of wages, even if the individual has been employed for less than two years.
Mandatory Payroll Tax DeductionsFederal income tax withholding.Social Security & Medicare taxes also known as FICA taxes.State income tax withholding.Local tax withholdings such as city or county taxes, state disability or unemployment insurance.Court ordered child support payments.
The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total. The current rate for Medicare is 1.45% for the employer and 1.45% for the employee, or 2.9% total. Combined, the FICA tax rate is 15.3% of the employee's wages.
The New Hampshire new employer tax rate is 2.7 % Minus any Fund Reduction or Plus any Emergency Power Surcharge in place for the applicable quarter.
Some of the types of deductions which are authorized under federal and state law include: meals, housing and transportation, debts owed the employer, debts owed to third parties (through the process of garnishment); debts owed to the government (such as back taxes and federally-subsidized student loans), child support
A. The New Hampshire new employer tax rate is 2.7% (UI Rate: 2.3% / AC Rate: 0.4%).