Social Security Tax Wage Limit 2024 Lok. What’s the maximum you’ll pay per employee in social security tax next year? The wage base or earnings limit for the 6.2% social security tax rises every year.
Social security tax wage limit 2024 lok carey correna, nirmala sitharaman on tuesday announced that the standard deduction limit under the new tax regime has been revised. Budget 2024 income tax expectations:
In 2024, The Social Security Tax Limit Rises To $168,600.
Employers match this amount, contributing another 6.2%.
Revised Tax Rate Under New Tax Regime.
In 2024, employees will continue to pay 6.2% on their earnings up to the new wage base of $168,600.
Social Security Tax Wage Limit 2024 Lok Images References :
So, If You Earned More Than $160,200 This Last Year, You Didn't Have To.
The maximum amount of social security tax an employee will have withheld from.
Individual Taxable Earnings Of Up To $168,600 Annually Will Be Subject To Social Security Tax In 2024, The Social Security Administration (Ssa) Announced.
Workers earning less than this limit pay a 6.2% tax on their earnings.