 |
|
2007 Tax Changes
- The Social Security wage base has increased
to $97,500.00
- The standard mileage rate is now 48.5 cents
per mile
- Retirement plan deferral limit changes for
2007 are as follows:
- 401(k), 403(b), 408(k), & 457(b) plans
have increased to $15,500.00
- The catch-up contribution amount for these
plans remains unchanged at $5,000.00
- 408(p) simple plans have increased to $10,500.00
- The simple plan catch-up contribution remains
unchanged at $2,500.00
The following states have changed their
taxable unemployment wage base for 2007:
| |
2006 Base
|
2007 Base
|
|
|
|
| Alaska |
28,700
|
30,100
|
|
|
|
| Illinois |
11,000
|
11,500
|
|
|
|
| Iowa |
21,300
|
22,000
|
|
|
|
| Montana |
21,600
|
22,700
|
|
|
|
| Nevada |
24,000
|
24,600
|
|
|
|
| New Jersey |
25,800
|
26,600
|
|
|
|
| New Mexico |
17,900
|
18,600
|
|
|
|
| North Carolina |
17,300
|
17,800
|
|
|
|
| North Dakota |
20,300
|
21,300
|
|
|
|
| Oklahoma |
13,500
|
13,200
|
|
|
|
| Oregon |
28,000
|
29,000
|
|
|
|
| Rhode Island |
16,000
|
14,000
|
|
|
|
| South Dakota |
7,000
|
8,500
|
|
|
|
| Utah |
24,000
|
25,400
|
|
|
|
| Washington |
30,900
|
31,400
|
|
|
|
| Wyoming |
17,100
|
18,100
|
The information on this
Site is provided for informational purposes only.
It does not, and is not intended to, provide any
financial, insurance, legal, accounting, tax or
other professional advice, and should not be relied
upon by you in that regard. It is not a substitute
for professional advice from a competent, independent
advisor in your jurisdiction. |
