Wisconsin (WI) – 2024

Wisconsin Effective 7/24/09 Federal Effective 7/24/09

Minimum WageWisconsinFederal
Minimum Wage$7.25$7.25
Minimum Cash Wage (Tipped Employee)$2.33$2.13
Maximum Tip Credit$4.92$5.12
Youth Minimum Wage$5.90$4.25
Comment* 2.9% construction industry payrolls under $500,000, 3.05% all other industry payrolls under $500,000, 3.1% construction industry payrolls of $500,000 or more, 3.25% all other industry payrolls of $500,000 or more
State Income TaxWisconsinFederal
Wage WithholdingTables
Supplemental Wage / Bonus Rate3.54%, 4.65%, 5.3% or 7.65%
Unemployment InsuranceWisconsinFederal
Maximum 2024 Taxable Earnings (Unchanged from 2023)$14,000
Employee 2024 DeductionNone
Employer 2024 Tax Rates (plus solvency surtax of 0.00 – 1.30%)0.0 – 12.0%
Standard 2024 New Employer Rate (3.05 or 3.25%, 2.9 or 3.1% for construction)2.9 – 3.25%
Voluntary Contribution PermittedYes

Federal (FED) – 2024

Minimum WageFederal
Youth Minimum Wage$4.25
Maximum Tip Credit$5.12
Minimum Cash Wage (Tipped Employee)$2.13
Minimum Wage$7.25
FICA (MEDICARE)Federal
Additional Medicare Tax Withholding on Wages > $200,000 (No Employer Match)0.90%
Maximum Taxable EarningsNo Limit
Employee / Employer Tax Rate (Unchanged from 2023)1.45%
FICA (SOCIAL SECURITY)Federal
Maximum Taxable Earnings (Increased from $160,200 in 2023)$168,600
Employee / Employer Tax Rate (Unchanged from 2023)6.20%
FUTA (EMPLOYER-PAID)Federal
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 2023)$1,000
Family Contribution Limit (Employee / Employer) (Increased from $7,750 in 2023)$8,300
Self-Only Contribution Limit (Employee / Employer) (Increased from $3,850 in 2023)$4,150
Pension PlansFederal
Catch-up Contribution Limit – 401(k) & 403(b) plans (age 50 or older) (Unchanged from $7,500 in 2023)$7,500
Contribution Limit – 401(k) & 403(b) plans (Increased from $22,500 in 2023)$23,000
Supplemental Wage / Bonus RatesFederal
Pay over $1 Million (Unchanged from 2023)37%
Flat Rate Withholding Method (Unchanged from 2023)22%

Wisconsin State Resources

Need a Tax Form?

You can download some of the most common tax related forms here.