Rhode Island (RI) – 2020
Rhode Island
| Minimum Wage | Rhode Island | Federal |
|---|---|---|
| Minimum Wage | $10.50 | $7.25 |
| Minimum Cash Wage (Tipped Employee) | $3.89 | $2.13 |
| Maximum Tip Credit | $6.61 | $5.12 |
| Youth Minimum Wage | Various rates | $4.25 |
| State Income Tax | Rhode Island | Federal |
| Wage Withholding | Tables | |
| Supplemental Wage / Bonus Rate | 5.99% | |
| Unemployment Insurance | Rhode Island | Federal |
| Maximum 2020 Taxable Earnings (Increased from $23,600 in 2019) | $24,000 Tier I Employers | |
| Maximum 2020 Taxable Earnings (Increased from $25,100 in 2019) | $25,500 Tier II Employers | |
| Employee 2020 Deduction | None | |
| Employer 2020 Tax Rates(Includes 0.21% Job Development Assessment Adjustment) | 0.9 – 9.4% | |
| Standard 2020 New Employer Rate(Includes 0.21% Job Development Assessment Adjustment) | 1.27% | |
| Voluntary Contribution Permitted | Yes | |
| Disability Insurance | Rhode Island | Federal |
| Maximum 2020 Taxable Earnings(Increased from $71,000 in 2019) | $72,300 | |
| Employee 2020 Tax Rate (Increase from 1.1% in 2019) | 1.30% | |
| Employer Contribution | None |
Federal (FED) – 2020
| Minimum Wage | Federal |
|---|---|
| Maximum Tip Credit | $5.12 |
| Youth Minimum Wage | $4.25 |
| Minimum Wage | $7.25 |
| Minimum Cash Wage (Tipped Employee) | $2.13 |
| FICA (MEDICARE) | Federal |
| Medicare Rate | 1.45% |
| Additional Medicare Tax Withholding on Wages > $200,000 (No Employer Match) | 0.90% |
| Maximum Taxable Earnings | No Limit |
| FICA (SOCIAL SECURITY) | Federal |
| Employee / Employer Tax Rate (Unchanged from 2019) | 6.20% |
| Maximum Taxable Earnings (Increased from $132,900 in 2019) | $137,700 |
| FUTA (EMPLOYER-PAID) | Federal |
| Normal Net Tax | 0.60% |
| Maximum Credit | 5.40% |
| Percent of Taxable Wages | 6.00% |
| Maximum Taxable Earnings | $7,000 |
| Health Savings Accounts | Federal |
| Catch-up Contribution Limit (Employee / Employer) (Unchanged from 2019) | $1,000 |
| Family Contribution Limit (Employee / Employer) (Increased from $7,000 in 2019) | $7,100 |
| Self-Only Contribution Limit (Employee / Employer) (Increased from $3,500 in 2019) | $3,550 |
| Supplemental Wage / Bonus Rates | Federal |
| Pay over $1 Million (Unchanged from 2019) | 37% |
| Flat Rate Withholding Method (Unchanged from 2019) | 22% |
Rhode Island State Resources
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