Oklahoma (OK) – 2023

Oklahoma Effective 7/24/2009 Federal Effective 7/24/2009

Minimum Wage – Employers with 10 or more full-time employees at any one location or employers with annual gross sales over $100,000 irrespective of number of full-time employeesOklahomaFederal
Minimum Wage$7.25
Minimum Cash Wage (Tipped Employee)$3.63
Maximum Tip Credit$3.63
Youth Minimum Wage$4.25
Minimum Wage – All other employersOklahomaFederal
Minimum Wage$2.00
Minimum Cash Wage (Tipped Employee)$1.00
Maximum Tip Credit$1.00
State Income TaxOklahomaFederal
Wage WithholdingTables
Supplemental Wage / Bonus Rate4.75%
Unemployment InsuranceOklahomaFederal
Maximum 2023 Taxable Earnings (Increased from $24,800 in 2022)$25,700
Employee 2023 DeductionNone
Employer 2023 Tax Rates0.3 – 9.2%
Standard 2023 New Employer Rate1.50%
Voluntary Contribution PermittedNo

Federal (FED) – 2023

Minimum WageFederal
Youth Minimum Wage$4.25
Maximum Tip Credit$5.12
Minimum Cash Wage (Tipped Employee)$2.13
Minimum Wage$7.25
Additional Medicare Tax Withholding on Wages > $200,000 (No Employer Match)0.90%
Maximum Taxable EarningsNo Limit
Maximum Taxable Earnings (Increased from $147,000 in 2022)$160,200
Employee / Employer Tax Rate (Unchanged from 2022)6.20%
Normal Net Tax0.60%
Maximum Credit5.40%
Percent of Taxable Wages6.00%
Maximum Taxable Earnings$7,000
Health Savings AccountsFederal
Catch-up Contribution Limit (Employee / Employer) (Unchanged from 2022)$1,000
Family Contribution Limit (Employee / Employer) (Increased from $7,300 in 2022)$7,750
Self-Only Contribution Limit (Employee / Employer) (Increased from $3,650 in 2022)$3,850
Pension PlansFederal
Catch-up Contribution Limit – 401(k) & 403(b) plans (age 50 or older) (Increase from 6,500 in 2022)$7,500
Supplemental Wage / Bonus RatesFederal
Pay over $1 Million (Unchanged from 2022)37%
Flat Rate Withholding Method (Unchanged from 2022)22%

Oklahoma State Resources

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