Laney Valeria

Social Security Tax Limit 2024 Withholding Tax. The social security tax limit is the maximum wage due to the social security tax. Workers earning less than this limit pay a 6.2% tax on their earnings.

In 2024, the social security tax rate is 6.2% for employers and employees, unchanged from 2023. The social security administration recently announced that the wage base for computing social security tax will increase to $168,600 for 2024 (up from $160,200 for 2023).