1997 Tax Help Archives  

Social Security and Medicare Withholding Rates

This is archived information that pertains only to the 1997 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.

The Federal Insurance Contributions Act (FICA) tax includes two separate taxes. One is the social security tax and the other is the Medicare tax. Different rates of tax apply for each of these.

For 1998 the social security tax rate is 6.2 %, which applies to the first $68,400 of an employee's wages. The Medicare tax rate is 1.45 %, which applies to all of the employee's wages.

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