What is the withholding rate for Social Security and Medicare?
What is the withholding rate for Social Security and Medicare? 7.65% NOTE: The 7.65% tax rate is the combined rate for Social Security and Medicare. The Social Security portion (OASDI) is 6.20% on earnings up to the applicable taxable maximum amount (see below). The Medicare portion (HI) is 1.45% on all earnings. What was the maximum Social Security in 2013? In 2013, with the higher income ceiling and the return to the 6.2 percent withholding rate, the maximum yearly Social Security tax withholding rises from $4,624.20 (4.2 percent on income up to $110,100) to $7,049.40 (6.2 percent on income up...