What is the Social Security tax rate?

The Social Security tax rate in California is 12.4%. This is the same rate for everyone regardless of age, income, or other factors. This rate is composed of two parts: 6.2% which is paid by the employee and 6.2% which is paid by the employer. All wages up to $137,700 are subject to the Social Security Tax. Wages above that amount are not subject to this tax. Social Security tax is used to fund Social Security benefits. Social Security is a social insurance program that provides retirement, disability, and survivor benefits to eligible workers. The amount of Social Security benefits an individual earns depends on their record of earnings over the course of their working life. California is one of the few states that does not collect a state income tax. Instead, the state collects revenue through corporate taxes, sales taxes, and other fees. While Social Security Tax is the same for all workers, the amount of taxes an individual pays depends on their income level. The more an individual earns, the more Social Security Tax they will pay. This is because of the taxable wage base that has been set for the Social Security tax.

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