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Revision as of 08:54, 16 May 2026
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The 'payroll' tax applies at a hard percentage of your working income - no brackets. For employee, instead of 6.2% of your working income for Social Security (only up to $106,800 income) and 4.45% of it for Medicare (no limit). Together they take an additional 7.65% of the income. There is no transfer pricing tax threshold (or tax free) degree of income to do this system.
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