Social Security wage base remains at $106,800 for 2011

The Social Security Administration has announced that the wage base for computing the Social Security tax (OASDI) in 2011 remains unchanged for the third year in a row at $106,800. 

 The FICA tax rate for employees and employers is 7.65% each—6.2% for OASDI and 1.45% for HI. For self-employed workers, the FICA tax is 15.3%—12.4% for OASDI and 2.9% for HI. There is a maximum amount of compensation subject to the OASDI tax, but no maximum for HI. 

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