Payroll estimate
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Employer Federal Insurance Contributions Act tax (FICA)
6.20%
Only taxed on the first $132,900 of employee income in 2019
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Federal Medicare tax1.45%Taxed on all income
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Federal Unemployment Tax Act (FUTA)0.60%Taxed on first $7,000 employee income
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Connecticut State Unemployment Tax Act (SUTA)3.40%Taxed on first $15,000 employee income**
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**Determining any state payroll tax would be difficult since WWE wrestlers perform in every state. They would be required to file in every state and due to Nexus would probably be subject to state payroll tax in every state. Reciprocity would have to be evaluated to see how much WWE HQ would be on the hook for. Using Connecticut is simply an estimate of entire state payroll tax liability for HQ.
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If average wrestler makes $550,000:$550,000
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Employer Federal Insurance Contributions Act tax (FICA)
$ 8,239.80
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Federal Medicare tax $ 7,975.00
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Federal Unemployment Tax Act (FUTA) $ 42.00
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Connecticut State Unemployment Tax Act (SUTA) $ 510.00
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Total employer portion of payroll tax $ 16,766.80
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X Number of wrestlers on roster 215
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Total payroll liability $ 3,604,862.00
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