Social Security Wage Base 2024 Maximum 2024. Individual taxable earnings of up to $168,600 annually will be subject to social security tax in 2024, the social security administration (ssa) announced. For 2024, the maximum social security tax that an employee will pay is $10,453 ($168,600 x 6.2%).
The wage base or earnings limit for the 6.2% social security tax rises every year. We call this annual limit the contribution and benefit base.
The New Minimum Wage In Vietnam, Effective July 1, 2024, Will Impact Various Social Insurance Items Calculated Based On The Statutory Pay Rate.
This limit changes each year with changes in the national average wage index.
So, If You Earned More Than $160,200 This Last Year, You Didn't Have To.
The maximum earnings eligible for social security tax increased from $160,200.
Social Security Wage Base 2024 Maximum 2024 Images References :
The Wage Base Changes Each Year, With An.
Whatโs the maximum youโll pay per employee in social security tax next year?
This Limit Changes Each Year With Changes In The National Average Wage Index.
The social security administration recently announced that the wage base for computing social security tax will increase to $168,600 for 2024 (up from $160,200.
