Social security and medicare tax rate and limit
(Source: http://www.ssa.gov/policy/docs/quickfacts/prog_highlights/RatesLimits2014.html)
Tax Rates (percent)
Social Security (Old-Age, Survivors, and Disability Insurance)
Employers and Employees, each 6.20
Medicare (Hospital Insurance)
Employers and Employees, each 1.45
Maximum Taxable Earnings (dollars)
Social Security 117,000
Medicare (Hospital Insurance) No limit
Federal income tax rate
(Source: http://taxes.about.com/od/Federal-Income-Taxes/fl/Federal-Income-Tax-Rates-for-the-Year-2014.htm)
• 10% on taxable income from $0 to $9,075, plus
• 15% on taxable income over $9,075 to $36,900, plus
• 25% on taxable income over $36,900 to $89,350, plus
• 28% on taxable income over $89,350 to $186,350, plus
• 33% on taxable income over $186,350 to $405,100, plus
• 35% on taxable income over $405,100 to $406,750, plus
• 39.6% on taxable income over $406,750.
State income tax rate
(Source: http://www.ssa.gov/policy/docs/quickfacts/prog_highlights/RatesLimits2014.html)
Tax Rates (percent)
Social Security (Old-Age, Survivors, and Disability Insurance)
Employers and Employees, each 6.20
Medicare (Hospital Insurance)
Employers and Employees, each 1.45
Maximum Taxable Earnings (dollars)
Social Security 117,000
Medicare (Hospital Insurance) No limit
Federal income tax rate
(Source: http://taxes.about.com/od/Federal-Income-Taxes/fl/Federal-Income-Tax-Rates-for-the-Year-2014.htm)
• 10% on taxable income from $0 to $9,075, plus
• 15% on taxable income over $9,075 to $36,900, plus
• 25% on taxable income over $36,900 to $89,350, plus
• 28% on taxable income over $89,350 to $186,350, plus
• 33% on taxable income over $186,350 to $405,100, plus
• 35% on taxable income over $405,100 to $406,750, plus
• 39.6% on taxable income over $406,750.
State income tax rate