what is the percentage for social security and medicare tax
The employee tax rate for social security is 6.2%. Previously, the employee tax rate for social security was. 4.2%. The employer tax rate for social security remains. unchanged at 6.2%. The social security wage base limit. is $113,700. The Medicare tax rate is 1.45% each for the. employee and employer, unchanged from 2012. There. is no wage base limit for Medicare tax. Employers should implement the 6.2% employee. social security tax rate as soon as possible, but not later. than February 15, 2013.