University of Minnesota
Office of Human Resources
http://www.umn.edu/ohr
612-625-2016

FICA – Wage Limits and Tax Rates

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 Health Care or Dependent Daycare Reimbursement deductions. The remainder is your social security taxable gross.

NOTE: Effective for 2013, an additional .9% Medicare tax is withheld when employees' wages are in excess of $200,000.  The additional Medicare tax withholding begins with the pay period in which the wages exceed the $200,000 threshold.

FICA Yearly Limits
Year Annual Social Security Wage Base Limit Social Security Tax Rate Maximum Annual Social Security Tax Withholding Annual Medicare Wage Base Medicare Tax Rate Additional Medicare Wage Base Additional Medicare Tax Rate
2015 $118,500 6.2% $7,347.00 No annual limit 1.45% $200,000 0.9%
2014 $117,000 6.2% $7,254.00 No annual limit 1.45% $200,000 0.9%
2013 $113,700 6.2% $7,049.40 No annual limit 1.45%    
2012 $110,100 4.2% $4,624.20 No annual limit 1.45%    
2011 $106,800 4.2% $4,485.60 No annual limit 1.45%    
2010 $106,800 6.2% $6,621.60 No annual limit 1.45%    
2009 $106,800 6.2% $6,621.60 No annual limit 1.45%    
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%