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Employee's Rates 7.65% on first $118,500 of income 1.45% on income above $118,500 2016 FICA Tax Rates¹ Matching Rates Pa
Posted: Wed Jul 06, 2022 12:05 pm
by answerhappygod
- Employee S Rates 7 65 On First 118 500 Of Income 1 45 On Income Above 118 500 2016 Fica Tax Rates Matching Rates Pa 1 (45.27 KiB) Viewed 12 times
Employee's Rates 7.65% on first $118,500 of income 1.45% on income above $118,500 2016 FICA Tax Rates¹ Matching Rates Paid by the Employer • 7.65% on first $118,500 paid in wages • 1.45% on wages above $118,500 Self-Employed Rates • 13.3% on first $118,500 of net earnings • 2.9% on earnings above $118,500 1FICA taxes include Social Security and Medicare. The Social Security tax applies to the first $118,500 of income, while the Medicare tax applies to all income. Suppose Patrisse has $26,400 of income from work and is not self-employed. How much will Patrisse have to pay in FICA taxes?