Payroll Tax Changes for 2005

Please be advised that the following tax rates and limits have changed for calendar year 2005.

• Social Security taxable wage base increased to $90,000 
  (up from 87,900 in 2004)
• Social Security Tax maximum withholding increased to $5,580.00
  (up from $5,449.80 in 2004)
• Philadelphia City Wage Tax for Residents–reduced to 4.331%
  (down from 4.4625% in 2004)
• Philadelphia City Wage Tax Non-Residents–reduced to 3.8197%
  (down from 3.8801% in 2004)

The new tax rates are effective for all payroll checks dated on or after January 1, 2005.

If you have any questions please contact the payroll office by phone at (215) 898-6301 or by e-mail at Payroll@pobox.upenn.edu.

—Payroll Office