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Each year we track changes in the social security tax contribution limits. This year, the income limit rises quite a bit, from last year’s $118,500 to a hefty $127,200. With the average jump being a couple hundred dollars over the last decade, this is a significant increase.

In 2011 and 2012, employees were lucky enough to only pay social security tax at a rate of 4.2% of up to the yearly limit. This was down from the normal rate of 6.2%, and was part of Washington’s efforts to stimulate the economy by keeping more cash in the hands of consumers. Beginning again in 2013 through the present, however, we remain at the 6.2% rate.

Here are the details for tax year 2017, along with historical data back to 2005 (Source: Social Security Administration):

2017 FICA Taxes and Social Security Limits

Social Security Tax Rate – 6.20% (employee) / 6.20% (employer)

Self-employed SS Tax Rate: 12.4% of net self-employment income

Social Security Income Limit – $127,200.00

Maximum Social Security Contribution Amount – $7,886.40 (employee) / $7,886.40 (employer)

Medicare Tax Rate – 1.45% (for employees and employers) *If you’re self-employed, this brings your total tax rate to 15.3% on the first $127,200 of income, and 2.9% thereafter.

2016 FICA Taxes and Social Security Limits

Social Security Tax Rate – 6.20% (employee) / 6.20% (employer)

Self-employed SS Tax Rate: 12.4% of net self-employment income

Social Security Income Limit – $118,500.00

Maximum Social Security Contribution Amount – $7,347.00 (employee) / $7,347.00 (employer)

Medicare Tax Rate – 1.45% (for employees and employers) *If you’re self-employed, this brings your total tax rate to 15.3% on the first $118,500 of income, and 2.9% thereafter.

2015 FICA Taxes and Social Security Limits

Social Security Tax Rate – 6.20% (employee) / 6.20% (employer)

Self-employed SS Tax Rate: 12.4% of net self-employment income

Social Security Income Limit – $118,500.00

Maximum Social Security Contribution Amount – $7,347.00 (employee) / $7,347.00 (employer)

Medicare Tax Rate – 1.45% (for employees and employers) *If you’re self-employed, this brings your total tax rate to 15.3% on the first $118,500 of income, and 2.9% thereafter.

2014 FICA Taxes and Social Security Limits

Social Security Tax Rate – 6.20% (employee) / 6.20% (employer)

Self-employed SS Tax Rate: 12.4% of net self-employment income

Social Security Income Limit – $117,000.00

Maximum Social Security Contribution Amount – $7,254.00 (employee) / $7,254.00 (employer)

Medicare Tax Rate – 1.45% (for employees and employers) *If you’re self-employed, this brings your total tax rate to 15.3% on the first $117,000 of income, and 2.9% thereafter.

2013 FICA Taxes and Social Security Limits

Social Security Tax Rate – 6.20% (employee) / 6.20% (employer)

Self-employed SS Tax Rate: 12.4% of net self-employment income

Social Security Income Limit – $113,700.00

Maximum Social Security Contribution Amount – $7,049.40 (employee) / $7,049.40 (employer)

Medicare Tax Rate – 1.45% (for employees and employers) *If you’re self-employed, this brings your total tax rate to 15.3% on the first $113,700 of income, and 2.9% thereafter.

2012 FICA Taxes and Social Security Limits

Social Security Tax Rate – 4.20% until March 1, 2012, then 6.20% (employee) / 6.20% (employer)

Social Security Income Limit – $110,100.00

Medicare Tax Rate – 1.45%

Maximum Social Security Contribution Amount – $4,624.20* (employee) / $6,826.20 (employer)

*This assumes that the reduced rate of 4.20% for social security tax will be extended throughout 2012. Otherwise, the reduced rate of 4.20% will increase to 6.20% effective March 1, 2012.

2011 FICA Taxes and Social Security Limits

Social Security Tax Rate – 4.20% (employee) / 6.20% (employer)

Social Security Income Limit – $106,800.00

Medicare Tax Rate – 1.45%

Maximum Social Security Contribution Amount – $4,485.60 (employee) / $6,621.60 (employer)

2010 FICA Taxes and Social Security Limits

FICA Tax Rate – 6.20%

Social Security Income Limit – $106,800.00

Maximum Social Security Contribution Amount – $6,621.60

2009 FICA Taxes and Social Security Limits

FICA Tax Rate – 6.20%

Social Security Income Limit – $106,800.00

Maximum Social Security Contribution Amount – $6,621.60

2008 FICA Taxes and Social Security Limits

FICA Tax Rate – 6.20%

Social Security Income Limit – $102,000.00

Maximum Social Security Contribution Amount – $6,324.00

2007 FICA Taxes and Social Security Limits

FICA Tax Rate – 6.20%

Social Security Income Limit – $97,000.00

Maximum Social Security Contribution Amount – $6,045.00

2006 FICA Taxes and Social Security Limits

FICA Tax Rate – 6.20%

Social Security Income Limit – $94,200.00

Maximum Social Security Contribution Amount – $5,840.40

2005 FICA Taxes and Social Security Limits

FICA Tax Rate – 6.20%

Social Security Income Limit – $90,000.00

Maximum Social Security Contribution Amount – $5,580.00

FICA stands for Federal Insurance Contributions Act with its roots dating back to 1935 when the US Government created the Social Security Program. Today, FICA taxes are collected from both employee and employer from the gross earnings of the individual.

For more information on tax rates, check out the 2016 federal income tax rates.