The Social Security Administration (SSA) announced that the maximum amount of wages in 2017 subject to the 6.2% Social Security tax (old age, survivor, and disability insurance) will rise from $118,500 to $127,200, an increase of more than 7%.
Thus, the maximum OASDI (Social Security) tax payable by an employer in 2017 would be $7,886.40. This is a $539.40 increase from 2016.
If you have any questions or comments regarding the aforementioned, please do not hesitate to contact any of the following attorneys from our Corporate & Tax Practice Group at your convenience:
|Luis L. Torres-Marrero||(787) email@example.com|
|Miguel A. Santiago-Rivera||(787) firstname.lastname@example.org|
|Diana M. Alcaraz-Irizarry||(787) email@example.com|
|Janice Seda-Irizarry||(787) firstname.lastname@example.org|
|Alberto J. E. Añeses-Negrón||(787) email@example.com|
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