Medicare Tax Limit 2024 Withholdings

Medicare Tax Limit 2024 Withholdings. To comply with the additional medicare tax requirement, employers must withhold the 0.9 percent additional medicare tax from wages it pays to an employee in. For 2024, the fica tax rate for both employers and employees is 7.65% (6.2% for oasdi and 1.45% for medicare).

In 2024, the medicare tax rate is 1.45% for an employee and 1.45% for an employer, for a total of 2.9%. Unlike social security, medicare tax has.