Allx Nikoletta

Social Security Tax Wage Limit 2024 Table. After an employee earns above the annual wage base, do not withhold money for social security taxes. The social security wage base limit is $168,600.the medicare tax rate is 1.45% each for the employee and employer, unchanged from 2023.

The oasdi tax rate for wages paid in 2024 is set by statute at 6.2 percent for employees and employers, each. The wage base limit is the maximum wage that’s subject to the tax for that year.