Current Payroll Tax Deductions
Nov 22, 2017 · The applicable tax rate for calendar year 2017 is 6.2%. This will be withheld from an employee’s paycheck until a maximum social security taxable gross of $127,200 is reached for a total withholding of $7,886.40 in social security tax. Medicare Tax. Medicare tax is required by federal law and must be withheld from all employees except: ................
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