|
Postal Bulletin 22245 >
Organization Information > Finance
For 2009, the maximum limit on earnings for withholding in the Old-Age, Survivors, and Disability (OASDI) portion of the Social Security tax increases from $102,000.00 to $106,800.00. This is a $4,800 increase from the 2008 limit. The Social Security tax rate remains at 6.2 percent, resulting in a maximum Social Security tax of $6,621.60. This is a $297.60 increase from the 2008 maximum of $6,324.00. There is still no limit on the amount of earnings subject to the Medicare portion of the tax rate. The Medicare tax rate applies to all taxable wages, and remains at 1.45 percent. The FICA tax rate, which is the combined Social Security tax rate of 6.2 percent and the Medicare tax rate of 1.45 percent, remains at 7.65 percent for 2009.
The information in the following table is effective January 1, 2009.
— Payroll, Finance, 11-6-08
|
|