Social Security limit for 2017 increases, while Medicare taxes hold steady
- The Social Security wage base limit for 2017 will increase to $127,200. Employees will pay a maximum of $7,886.40 ($127,200 x 6.2%) for 2017.
- Medicare tax for 2017 is unchanged at 1.45%.
- The Additional Medicare tax withheld for 2017 is unchanged at 0.9% on wages in excess of $200,000.
If you have questions regarding payroll taxes, please contact University Payroll and Tax Services at (352) 392-1231 or email firstname.lastname@example.org.