Commenting on Tanzania 's 2025 Millennium Development Goal Tanzanian Prime Minister Mizengo Pinda said only 12 years remained and the Tanzanian government is focussed on applying the Big Results Now initiative to ensure there is clear implementation of various projects.
The maximum Social Security tax in 2017 will be $7,886.40 per employee, which represents a pretty big increase over 2016. That's the simple answer. Below, find out why the maximum Social Security tax is increasing so much, whether the increase will affect you, and what to expect in the coming years.
The employer's Social Security tax rate for 2016 is 6.2% of each employee's first $118,500 of wages, salaries, etc. If an employee's wages, salaries, etc. are greater than $118,500, the amount that is in excess of $118,500 is not subject to the Social Security tax. Hence, the maximum amount of the employer's Social Security tax for each employee in 2016 is $7,347 (6.2% X $118,500). (The percentage and the earnings limit are unchanged from 2015.) (Employees also pay a Social Security tax. In effect, the employer is matching each employee's Social Security tax.)