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Social Security Medicare Tax Rate 2024

Social Security Medicare Tax Rate 2024. As noted, social security generates more than 91% of its income via the 12.4% payroll tax. You’re typically responsible for paying half of this amount (1.45%), and your employer is responsible for the other half.


Social Security Medicare Tax Rate 2024

Below are the standard medicare tax rates for the tax year 2024 to 2025: Employees must pay 1.45% of their gross pay.

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