Social Security Contribution and Rate Schedule
Updated August 5, 2020 |
Infoplease Staff
(percent of covered earnings)
| Year | Retirement survivors, and disability insurance | Hospital insurance (%) | Total |
|---|---|---|---|
| Employers and Employees | |||
| 1978 | 4.95% | 1.10% | 6.05% |
| 1979–80 | 5.08 | 1.05 | 6.13 |
| 1981 | 5.35 | 1.30 | 6.65 |
| 1982–83 | 5.40 | 1.30 | 6.70 |
| 1984 | 5.70 | 1.30 | 7.00 |
| 1985 | 5.70 | 1.35 | 7.05 |
| 1986–87 | 5.70 | 1.45 | 7.15 |
| 1988–89 | 6.06 | 1.45 | 7.51 |
| 1990 & later | 6.20 | 1.45 | 7.65 |
| Self-employed | |||
| 1978 | 7.00% | 1.10% | 8.10% |
| 1979–80 | 7.05 | 1.05 | 8.10 |
| 1981 | 8.00 | 1.30 | 9.30 |
| 1982 | 8.05 | 1.30 | 9.35 |
| 1983 | 8.05 | 1.30 | 9.35 |
| 1984 | 11.40 | 2.60 | *14.00 |
| 1985 | 11.40 | 2.70 | *14.10 |
| 1986–87 | 11.40 | 2.90 | *14.30 |
| 1988–89 | 12.12 | 2.90 | *15.02 |
| 1990 & later | 12.40 | 2.90 | *15.30 |
* The law provides credit against self-employment tax liability in the following manner: 2.7% in 1984; 2.3% in 1985; 2.09% 1986–1989 and, beginning with the 1990 taxable year, the credit is replaced with two special provisions. First, self-employed persons will be allowed a 7.65% deduction from net profit before computing their SECA tax and second, an income tax deduction equal to one-half of the SECA tax.
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