State Agencies Bulletin No. 126

Subject
2000 Social Security/Medicare Deductions
Date Issued
November 10, 1999

Purpose

To notify agencies of maximum Social Security tax

Affected Employees

All employees

Specifics

The 2000 Social Security tax will be calculated at 6.2% on the first $76,200 of wages resulting in a maximum Social Security tax deduction of $4,724.40. The 1.45% Medicare tax will apply to all taxable wages as there is no wage cap.