Maximum Social Security Tax Withholding 2024 . The maximum earnings subject to the social security payroll tax will increase by nearly 9%, the social security administration announced. โข 6.2% social security tax on the first $168,600 of wages (6.2% x $168,600 makes the maximum tax $10,453.20),.
For 2024, the fica tax rate for employers will be 7.65% โ 6.2% for social security and 1.45% for medicare (the same as in 2023). For earnings in 2024, this base is $168,600.
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