State Agencies Bulletin No. 225

Subject
2001 Social Security/Medicare Deductions
Date Issued
January 2, 2001

Purpose

To notify agencies of maximum Social Security tax

Affected Employees

All Employees

Specifics

The 2001 Social Security tax will be calculated at 6.2% on the first $80,400 of wages resulting in a maximum Social Security tax deduction of $4,984.80. The 1.45% Medicare tax will apply to all taxable wages as there is no wage cap.