Social Security Tax Wage Limit 2024 Ny. This 5.2% increase means that more of your income could. The wage base or earnings limit for the 6.2% social security tax rises every year.
The maximum amount of social security tax an employee will have withheld from their paycheck in 2024 is $10,453.20 ($168,600 x 6.2%). If you are working, there is a limit on the amount of your earnings that is taxed by social security.
The Social Security Wage Base Limit For 2024 Has Increased To $168,600 (Max Tax $10,453.20).
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The wage base or earnings limit for the 6.2% social security tax rises every year.
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As The Irs Explains In Publication 15, Only The Social Security Tax Has A Wage Base Limit.
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Wagecap For Social Security Tax.
11 rows if you are working, there is a limit on the amount of your earnings that is taxed.