Payroll Taxes

Payroll Tax Rates
Social Security tax rate	6.20%
Medicare tax rate	1.45%
Total payroll taxes	7.65%

If an employee earns $1,000, the payroll taxes are:

Social Security tax	$62.00
Medicare tax	$14.50
Total payroll taxes	$76.50

The employer deducts $76.50 from employee's pay and it will be sent to the federal government.

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"There is a maximum annual amount of Social Security tax withheld per employee. Social Security taxes are not withheld on amounts over the earnings limit."
~ Tina the Tax Tutor