County College of Morris is an equal opportunity and affirmative action institution and complies with Title IX, ADA and Civil Rights obligations. Quicklinks Academic Advisement
Determining Taxable Amount. If your base income exceeds the limit for your filing group, you'll have to pay taxes on some of your Social Security benefits. If you're a single filer and your base income is between $25,000 and $34,000, you'll have to pay tax on up to 50 percent of your Social Security benefits.
This is not so with the Social Security tax. It cannot be adjusted in any way. The government has set a fixed amount that needs to be paid and if it isnât paid, heavy penalties will be imposed. Current Social Security Rate. The current rate of Social Security withholding is set at 12.4 percent. The full amount of the tax is divided equally between the employer and employee with each contributing 6.2 percent. The Medicare Tax rate is set at 2.9 percent and again is equally divided between employer and employee.