Maude Sherill

Fica Tax Rate 2024 Over 65. Fica is a 15.3% payroll tax that funds social security and medicare. The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total.

Another boon for corporate taxpayers carried over from last year was the reduced corporate income tax rate, down to 27% from 1 april 2023. They generally add up to 7.65% of your wages or salary and are mandatory.