What Is Fica Medicare Tax Rate For 2024. Fica requires employers to withhold 6.2% social security tax and 1.45% medicare tax from an employee’s gross wages. The social security wage base limit is.
The fica tax rate, which is the combined social security rate of 6.2 percent and the medicare rate of 1.45 percent, remains 7.65 percent for 2024 (or 8.55 percent. As of 2024, employers and employees each pay 6.2% for social.
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