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2008: 6.2% on first $102,000: 1.45% on all: 15.3% on first $102,000 2.9% over $102,000: 2007: 6.2% on first $97,500: 1.45% on all: 15.3% on first $97,500 2.9% over $97,500: 2006: 6.2% on first $94,200: 1.45% on all: 15.3% on first $94,200 2.9% over $94,200: 2005: 6.2% on first $90,000: 1.45% on all: 15.3% on first $90,000 2.9% over $90,000: ...
In 2020, the Social Security Wage Base was $137,700 and in 2021 was $142,800; the Social Security tax rate was 6.20% paid by the employee and 6.20% paid by the employer. [1] [2] A person with $10,000 of gross income had $620.00 withheld as Social Security tax from his check and the employer sent an additional $620.00.
[5] For 2011 and 2012, the OASDI tax rate on wages for employees and self-employed individuals is reduced from 6.2% to 4.2%. The OASDI tax rate on employers remains at 6.2%. [6] Amounts for 1937-74 and for 1979-81 were set by statute; all other amounts were determined under automatic adjustment provisions of the Social Security Act.
For 2011 and 2012, the OASDI tax rate is reduced by 2 percentage points for employees and for self-employed workers, resulting in a 4.2 percent effective tax rate for employees and a 10.4 percent effective tax rate for self-employed workers. These reductions in tax revenue due to lower tax rates are being made up by transfers from the general ...
May 5, 2009 · Download Social Security and Medicare Tax Rates, Calendar Years 1937 – 2009.
1968 7,800 7.6% 1.2% 2008 102,000 12.4% 2.9% 1969 7,800 8.4% 1.2% 2009 106,800 12.4% 2.9% 1970 7,800 8.4% 1.2% 2010 106,800 12.4% 2.9% 1971 7,800 9.2% 1.2% 2011 [4] 106,800 10.4% 2.9% 1972 9,000 9.2% 1.2% 2012 [4] 110,100 10.4% 2.9% 1973 10,800 9.7% 2.0% 2013 113,700 12.4% 2.9% 1974 13,200 9.9% 1.8% 2014 117,000 12.4% 2.9% 2015 118,500 12.4% 2.9%
All wage earners contribute a 6.2% payroll tax for Social Security with a 6.2% employer match. There’s an additional 1.45% payroll contribution for Medicare by both employers and employees. Self-employed individuals pay the full 15.3 percent.
