Social Security Wage Limit 2024 Percentage. Workers earning less than this limit pay a 6.2% tax on their earnings. The maximum amount of social security tax an employee will have withheld from their paycheck in 2024 is $10,453.20 ($168,600 x 6.2%).
Social security wage base limit for 2024: 6.2% social security tax on the first $168,600 of wages (6.2% x $168,600 makes the maximum tax $10,453.20), plus.
After An Employee Earns Above The Annual Wage Base, Do Not Withhold.
Individuals with multiple income sources.
6.2% For Both The Employer And The Employee.
In 2024, the social security tax limit rises to $168,600.
Social Security Wage Limit 2024 Percentage Images References :
The 2024 Social Security Wage Base Is $168,600, Up From The 2023 Limit Of $160,200.
For 2024, the maximum social security tax that an employee will pay is $10,453 ($168,600 x 6.2%).
6.2% For Both The Employer And The Employee.
The wage base or earnings limit for the 6.2% social security tax rises every year.