Rates and Limits

Washington State Info
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Rates and Limits

2008 Annual Rates

Social Security/Medicare Rates	6.20% / 1.45%
Social Security Wage Limit	$102,000
Medicare Wage Limit	Unlimited
WA Employment Security Wage Limit	$34,000
FUTA Taxable Wage Base	$7,000
FUTA Rate	6.2%
Business Mileage Rate*	58.5¢/mile

*Can be used only if taxpayer owns/leases a passenger auto, van, pickup, or panel truck not for hire (e.g., as a taxi) that was not depreciated under ACRS, MACRS or Sec. 179 in earlier years.

2008 Qualified Retirement Plan Limits

Pretax contributions for 401(k) and SEP plans and 403(b) annuities	$15,500
Workers aged 50 and over (catch-up)	$ 5,000
Pretax contributions for Simple plans	$ 10,500
Workers aged 50 and over (catch-up) for Simple Plans	$ 2,500

2008 Section 179

Maximum election increases to $128,000

Important IRS Phone Numbers

For small corporations, partnerships and trust, including applications for a new EIN or help on employment taxes	800-829-4933
Tax Help Line for Individuals	800-829-1040
Business and Specialty Tax Line	800-829-4933
Refund Hotline	800-829-1954
National Taxpayer Advocate’s Help Line	877-777-4778

Note: Forms and Publications can be accessed at www.irs.gov.