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Discussion Starter · #1 ·
I would like to know if you can give me the current labor burden assessments for:

FICA- Social Security
FUTA- Federal Unemployment Tax
CUC-I - State unemployment compensation tax for your state
WCI - Workmans compensation Insurance rate.

I have been retired for the last twenty years and was writing a small pamplet. I would like to be current in my numbers.

FICA used to be .0715
FUTA used to be.0620

That's kind of what I'm looking for. Can you help.
I would appreciate it if you would say what State your in.

Thank You.
Washout
e-mail me at:

[email protected]
 

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Discussion Starter · #3 ·
hatchet said:
Typically those numbers will change more than once during the year.
:eek: I think you mis-understood the question. The numbers will change only because of the salary your paying. The multiplyer's are what I'm looking for. What is your multiplyer for Social Security, FUTA etc. at the present time? Those numbers every contractor needs to know in order to arrive at a labor burden.

Thank you,

Washout
 

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I think what hatchet meant was that the multiplier changes every quarter.
Well, at least it does in the state of Michigan. The Fed is usually the same throughout the year. But here the CUC multiplier will change usually each quarter, especially if a Dem is in the Gov. office.

As far as Work Comp. In Michigan, business owners are restricted from carrying it on themselves, but are required to carry it on all employees.
So it really just depends on where you get the insurance and how much the insurance carrier wants to stick it to you.
Here it's based on an hourly percentage scale. For someone like myself; painting and remodeling, the rate stands at about 18%. So an 10.00 per hour employee will cost you 1.80 per hour in comp insurance.
My buddy owns a sewer cleaning business, and his rate is at 42% per hour. (10.00 per hour would cost 4.20 in comp).

So as for the comp insurance, in Michigan you have to base it on the actual field of work your employee is engaging in.
 
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