To determine the gross pay subject to social security tax withholding, up to the wage base limit, you must first add any taxable fringe benefit amounts and taxable employer-paid deductions. From that taxable gross total, then subtract any Before-Tax Employee Insurance Benefits, parking deductions, and Medical or Dependent Care Benefit Reimbursement deductions. The remainder is your social security taxable gross.
FICA Limits
| Year |
Annual Social Security Wage Base |
Social Security Tax Rate |
Maximum Annual Social Security Tax Withholding |
Annual Medicare Wage Base |
Medicare Tax Rate |
| 2008 |
$102,000 |
6.2% |
$6,324.00 |
No annual limit |
1.45% |
| 2007 |
$97,500 |
6.2% |
$6,045.00 |
No annual limit |
1.45% |
| 2006 |
$94,200 |
6.2% |
$5,840.40 |
No annual limit |
1.45% |
| 2005 |
$90,000 |
6.2% |
$5,580.00 |
No annual limit |
1.45% |
| 2004 |
$87,900 |
6.2% |
$5,449.80 |
No annual limit |
1.45% |
| 2003 |
$87,000 |
6.2% |
$5,394.00 |
No annual limit |
1.45% |
| 2002 |
$84,900 |
6.2% |
$5,263.80 |
No annual limit |
1.45% |
| 2001 |
$80,400 |
6.2% |
$4,984.80 |
No annual limit |
1.45% |
| 2000 |
$76,200 |
6.2% |
$4,724.40 |
No annual limit |
1.45% |
| 1999 |
$72,600 |
6.2% |
$4,501.20 |
No annual limit |
1.45% |
| 1998 |
$68,400 |
6.2% |
$4,240.80 |
No annual limit |
1.45% |
| 1997 |
$65,400 |
6.2% |
$4,054.80 |
No annual limit |
1.45% |
|
