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Social Security Wage-Base Limit for 2019
October 12, 2018
The Social Security wage base will increase from $128,400 to $132,900 in 2019, higher than the $132,300 projected in the June 2018 Annual Report of The Board of Trustees.
The Medicare tax rate for 2019 remains at 1.45% of all covered earnings for employers and employees. Effective since 2013, the Additional Medicare Tax of 0.9% applies to earned income of more than $200,000 ($250,000 for married couples filing jointly). Employers withhold this tax on wages in excess of $200,000 regardless of an employee’s filing status.
Below is a comparison of the changes from 2018 -2019
Description | 2018 | 2019 | Change |
Social Security Tax Rate for Employees | 6.20% | 6.20% | 0 |
Social Security Rate for Employers | 6.20% | 6.20% | 0 |
Social Security Wage base | $128,400 | $132,900 | $4,500 |
Maximum Tax For Employers | $7,960.80 | $8,239.80 | $279.00 |
Maximum Tax For Employees | $7,960.80 | $8,239.80 | $279.00 |
Thank you for choosing Paylocity as your Payroll Tax partner. Should you have any questions please contact your Paylocity Account Manager.
This information is provided as a courtesy, may change and is not intended as legal or tax guidance. Employers with questions or concerns outside the scope of a Payroll Service Provider are encouraged to seek the advice of a qualified CPA, Tax Attorney or Advisor.
