Social Security Medicare Tax Rate 2024. Federal payroll tax that plays a critical role in funding social security and medicare programs. 2024 social security and medicare tax withholding rates and limits.

6.2% social security tax on the first $168,600 of wages (6.2% x $168,600 makes the maximum tax $10,453.20), plus. 6.2% for the employee plus 6.2% for the employer;