Sec. 5. Determination of taxable wages and self-employment income above contribution and benefit base after 2014
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Section 3121 of the Internal Revenue Code of 1986 is amended— in subsection (a)(1), by inserting the applicable percentage (determined under subsection (c)(1)) of before that part of the remuneration ; and in subsection (c), by striking and inserting the following: .—For purposes of this chapter, if
(c)Included and excluded service For purposes of subsection (a)(1), the applicable percentage for a calendar year shall be determined in accordance with the following table: The applicable In the case of: percentage is: Calendar year 2015 90 percent Calendar year 2016 80 percent Calendar year 2017 70 percent Calendar year 2018 60 percent Calendar year 2019 50 percent Calendar year 2020 40 percent Calendar year 2021 30 percent Calendar year 2022 20 percent Calendar year 2023 10 percent Calendar years after 2024 0 percent. For purposes of this chapter, if . Section 209 of the Social Security Act ( 42 U.S.C. 409 ) is amended— in subsection (a)(1)(I)— by inserting and before 2015 after 1974 ; and by inserting and after the semicolon; in subsection (a)(1), by adding at the end the following new subparagraph: The applicable percentage (determined under subsection (l)) of that part of remuneration which, after remuneration (other than remuneration referred to in the succeeding subsections of this section) equal to the contribution and benefit base (determined under section 230) with respect to employment has been paid to an individual during any calendar year after 2012 with respect to which such contribution and benefit base is effective, is paid to such individual during such calendar year; ; and by adding at the end the following new subsection: For purposes of subsection (a)(1)(J), the applicable percentage for a calendar year shall be determined in accordance with the following table: The applicable In the case of: percentage is: Calendar year 2015 90 percent Calendar year 2016 80 percent Calendar year 2017 70 percent Calendar year 2018 60 percent Calendar year 2019 50 percent Calendar year 2020 40 percent Calendar year 2021 30 percent Calendar year 2022 20 percent Calendar year 2023 10 percent Calendar years after 2024 0 percent. . The amendments made by this subsection shall apply with respect to remuneration paid in calendar years after 2014. Section 1402 of the Internal Revenue Code of 1986 is amended— in subsection (b)(1), by striking that part of the net earnings and all that follows through minus and inserting the following: an amount equal to the applicable percentage (as determined under subsection (d)(2)) of that part of the net earnings from self-employment which is in excess of the difference (not to be less than zero) between
(i)an amount equal to the contribution and benefit base (as determined under section 230 of the Social Security Act) which is effective for the calendar year in which such taxable year begins, and ; and in subsection (d)— by striking and inserting the following: .—The term
(d)Employee and wages The term ; and by adding at the end the following: For purposes of subsection (b)(1), the applicable percentage for a taxable year beginning in any calendar year referred to in such paragraph shall be determined in accordance with the following table: The applicable In the case of: percentage is: Calendar year 2015 90 percent Calendar year 2016 80 percent Calendar year 2017 70 percent Calendar year 2018 60 percent Calendar year 2019 50 percent Calendar year 2020 40 percent Calendar year 2021 30 percent Calendar year 2022 20 percent Calendar year 2023 10 percent Calendar years after 2024 0 percent. . Section 211 of the Social Security Act ( 42 U.S.C. 411 ) is amended— in subsection (b)— in paragraph (1)(I)— by striking or after the semicolon; and by inserting and before 2015 after 1974 ; by redesignating paragraph
(2)as paragraph (3); and by inserting after paragraph
(1)the following: For any taxable year beginning in any calendar year after 2014, an amount equal to the applicable percentage (as determined under subsection (l)) of that part of net earnings from self-employment which is in excess of the difference (not to be less than zero) between— an amount equal to the contribution and benefit base (as determined under section 230) that is effective for such calendar year, and the amount of the wages paid to such individual during such taxable year; or ; and by adding at the end the following: For purposes of subsection (b)(2), the applicable percentage for a taxable year beginning in any calendar year referred to in such paragraph shall be determined in accordance with the following table: The applicable In the case of: percentage is: Calendar year 2015 90 percent Calendar year 2016 80 percent Calendar year 2017 70 percent Calendar year 2018 60 percent Calendar year 2019 50 percent Calendar year 2020 40 percent Calendar year 2021 30 percent Calendar year 2022 20 percent Calendar year 2023 10 percent Calendar years after 2024 0 percent. . The amendments made by this subsection shall apply with respect to taxable years beginning in calendar years after 2014. Section 215(e) of the Social Security Act ( 42 U.S.C. 415(e) ) is amended— in paragraph (1)— by striking and after before 1975, ; by inserting and before 2015 after after 1974 ; and by inserting , and the applicable percentage of the excess over an amount equal to the contribution and benefit base (as determined under section 230) in the case of any calendar year after 2014 with respect to which such contribution and benefit base is effective, after benefit base is effective, ; and by adding at the end the following: For purposes of paragraph (1), the applicable percentage for a year shall be determined in accordance with the following table: The applicable In the case of: percentage is: Calendar year 2015 90 percent Calendar year 2016 80 percent Calendar year 2017 70 percent Calendar year 2018 60 percent Calendar year 2019 50 percent Calendar year 2020 40 percent Calendar year 2021 30 percent Calendar year 2022 20 percent Calendar year 2023 10 percent Calendar years after 2024 0 percent. . Section 215(i)(2)(C)(i) of the Social Security Act ( 42 U.S.C. 415(i)(2)(C)(i) ) is amended by striking the Commissioner's estimate of the extent to which the cost of such increase would be met by an increase in the contribution and benefit base under section 230 and the estimated amount of the increase in such base, .
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Sec. 5
Determination of taxable wages and self-employment income above contribution and benefit base after 2014
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