RESOURCES
Below are some links to federal and state forms and websites for your reference.
Federal and State forms
and Revenue sites
IRS Website – https://www.irs.gov/
IRS Forms, Instructions & Publications – https://www.irs.gov/forms-instructions
MN Department of Revenue – https://www.revenue.state.mn.us/minnesota-department-revenue
W-2 (Wage & Tax Statement) – W-2 Form
W-4 (Employees Withholding Certificate) – W-4 From
W-9 (Request for Taxpayer ID and Certification) – W-9 Form
2024 Tax Table Ceilings and Limits
Individual Taxpayers
If taxable Income is Between: | The Tax Due Is: |
|---|---|
0-$11,600 | 10% of taxable income |
$11,061 – $47,150 | $1,160 + 12% of the amount over $11,600 |
$47,151 – $100,525 | $5,426 + 22% of the amount over $47,150 |
$100,526 – $191,950 | $17,168.50 + 24% of the amount over $100,525 |
$191,951 – $243,725 | $39,110.50 + 32% of the amount over $191,950 |
$243,726 – $609,350 | $55,678.50 + 35% of the amount over $243,725 |
$609,351+ | $183,647.25 + 37% of the amount over $609,350 |
Married Individuals Filing Joint Returns and Surviving Spouses
If taxable Income is Between: | The Tax Due Is: |
|---|---|
0-$23,200 | 10% of taxable income |
$23,201 – $94,300 | $2,320 + 12% of the amount over $23,200 |
$94,301 – $201,050 | $10,852 + 22% of the amount over $94,300 |
$201,051 – $383,900 | $34,337 + 24% of the amount over $201,050 |
$383,901 – $487,450 | $78,221 + 32% of the amount over $383,900 |
$487,451 – $731,200 | $111,357 + 35% of the amount over $487,450 |
$731,201+ | $196,669.50 + 37% of the amount over $731,200 |
Married Filing Separately
If taxable Income is Between: | The Tax Due Is: |
|---|---|
0-$11,600 | 10% of taxable income |
$11,601 – $47,150 | $1,160 + 12% of the amount over $11,600 |
$47,151 – $100,525 | $5,426 + 22% of the amount over $47,150 |
$100,526 – $191,950 | $17,168.50 + 24% of the amount over $100,525 |
$191,951 – $243,725 | $39,110.50 + 32% of the amount over $191,950 |
$243,726 – $365,600 | $55,678.50 + 35% of the amount over $243,725 |
$365,601+ | $98,334.75 + 37% of the amount over $365,600 |
Heads of Household
If taxable Income is Between: | The Tax Due Is: |
|---|---|
0-$16,550 | 10% of taxable income |
$16,551 – $63,100 | $1,655 + 12% of the amount over $16,500 |
$63,101 – $100,500 | $7,241 + 22% of the amount over $63,100 |
$100,501 – $191,950 | $15,469 + 24% of the amount over $100,500 |
$191,951 – $243,700 | $37,417 + 32% of the amount over $191,950 |
$243,701 – $609,350 | $53,977 + 35% of the amount over $243,700 |
$609,350+ | $181,954.50 + 37% of the amount over $609,350 |
Payroll Rates and Bases
Payroll rates and bases | 2023 | 2024 |
|---|---|---|
Employee SS and Medicare | 6.20% and 1.45%* | 6.20% and 1.45%* |
Employer SS and Medicare | 6.20% and 1.45% | 6.20% and 1.45% |
Social Security wage limit | $160,200 | $168,600 |
Medicare wage limit* | Unlimited | Unlimited |
FUTA-taxable wage base | $7,000 | $7,000 |
FUTA rate | 6.00% | 6.00% |
FUTA maximum credit | 5.40% | 5.40% |
*Withhold added Medicare tax of .9% on wages over $200,000
2024 Standard Deduction Amounts
Filing Status | Standard Deduction Amount |
|---|---|
Single | $14,600 |
Married Filing Jointly & Surviving Spouses | $29,200 |
Married Filing Separately | $14,600 |
Heads of Household | $21,900 |
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