Definitions for "taxable wage base"
Keywords:  futa, wage, unemployment, usdol, sstwb
The maximum dollar amount of wages that is subject to Social Security taxes....
The Taxable Wage Base is the amount of wages per employee, that an employer is liable to pay tax on each year. In 2005, the Taxable Wage Base is $21,000. Employers pay taxes on wages up to and including the taxable wage base for each employee. After an individual employee’s wages reach the taxable wage base for that year, employers must continue to report the employee’s quarterly wages but are not required to pay taxes on any "excess" employee earnings above the $21,000 base. Employers may file Quarterly Reports wherein taxes are no longer paid on employees who have exceeded the $21,000 base, while (in the same report) continuing to pay taxes on employees who have not yet reached the $21,000 base.
Maximum amount of employee compensation subject to social security, FUTA, and SUTA (amounts will be different).