Overview

Capital
Currency
United States Dollar (USD)
Date Format
mm/dd/yyyy

Taxes

Employer
6.20% - Social Security Tax
1.45% - Medicare Rate
Up to 4.1% - State Taxes
Employee

Minimum Wage

General

Minimum wage $11.50 per hour.

Payroll Contributions

Social Security

Employer: 6.2%

Pension Fund

Employer:has to contribute 7% of the employee's wages.
Employee:has to contribute 5% of his/her wages.

Health Insurance

Federal:

Employer: Medicare - 1.45%

Employee: Medicare - 1.45% (additional 0.9% contribution for employees earning less than $200,000)

Unemployment Insurance

Federal

Employer: 6.0% and maximum taxable earnings are $7,000


State:

Employer: 2.7%

Employee: Voluntary contributions permitted.

Leave

Public Holidays

There are 11 official public holidays. Private employers are not obligated to provide vacation and or extra pay for these days.

Termination

Termination Process

An employee can be terminated at any time as they are considered “at will employees”. No specific termination policies.

Notice Period

There is no official notice period, but general practice is 2 weeks.

 

Severance Pay

There is no official state or federal law regarding severance payments. It depends on the company’s policies.

VAT

General

The state sales tax is 5.75%.