Payroll System Replacement Project

Subject: 1999 Social Security/Medicare Deductions Bulletin No. 54
Date: 11/19/98

The 1999 Social Security tax will be calculated at 6.2% on the first $72,600 of wages resulting in a maximum Social Security tax deduction of $4,501.20. The 1.45% Medicare tax will apply to all taxable wages as there is no wage cap.