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.
Hence, the maximum amount of the employer's Social Security tax for each employee in 2016 is $7,347 (6.2% X $118,500). (Employees also pay a Social Security tax. In addition to the Social Security tax, there is a Medicare tax of 1.45% (and a Medicare surtax for higher income taxpayers).