Class variables: Class variables are variables declared with in a class, outside any method, with the static keyword. A class can have any number of methods to access the value of various kinds of methods. In the above example, barking(), hungry() and sleeping() are methods.
New Mexico FICA Tax Rate and FICA Tax Limits. The FICA tax rate is 15.3% of taxable wages. The FICA Tax is comprised of the Social Security Tax and Medicare Tax. The Social Security taxable wage base is the first $118,500 paid in wages to each employee during a calendar year. The Medicare Tax has no income limit. New Mexico Social Security Tax Rate is 12.4%. New Mexico Medicare Tax Rate is 2.9%.
The social security wage base will increase to $113,700 in 2013. The Medicare portion of the FICA payroll tax for 2012 is 1.45% for both employees and employers. The Additional Medicare Payroll Tax applies to wages, other compensation, and self employment tax over certain thresholds. Employers will be responsible for withholding the tax on employee compensation in certain circumstances. The IRS has released a Q&A addressing the most frequent employer questions.