Medicare Tax Rate 2024


Medicare Tax Rate 2024. 1.45% for the employer and 1.45% for the employee or 2.9% total. After the amendment, the tax rate has increased to 20%, resulting in a tax liability of rs 400 (20% of rs 2,000).


Medicare Tax Rate 2024

There is no limit on the amount of earnings subject to medicare (hospital insurance) tax. You’re typically responsible for paying half of this amount (1.45%), and your employer is responsible for the other half.

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