Sec. 203. Increase in Social Security tax rate
334 words·~2 min read·
/bill/113/hr/5306/ih/section-203A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The table in subsection
(a)of section 3101 of the Internal Revenue Code of 1986 is amended to read as follows: In cases of wages The rate of tax received during: shall be: 1990 or any calendar year before 2018 6.20 percent 2018 6.25 percent 2019 6.30 percent 2020 6.35 percent 2021 6.40 percent 2022 6.45 percent 2023 6.50 percent 2024 6.55 percent 2025 6.60 percent 2026 6.65 percent 2027 6.70 percent 2028 6.75 percent 2029 6.80 percent 2030 6.85 percent 2031 6.90 percent 2032 6.95 percent 2033 7.00 percent 2034 7.05 percent 2035 7.10 percent 2036 7.15 percent 2037 or thereafter 7.20 percent. . The table in subsection
(a)of section 3111 of the Internal Revenue Code of 1986 is amended to read as follows: In cases of wages The rate of tax received during: shall be: 1990 or any calendar year before 2018 6.20 percent 2018 6.25 percent 2019 6.30 percent 2020 6.35 percent 2021 6.40 percent 2022 6.45 percent 2023 6.50 percent 2024 6.55 percent 2025 6.60 percent 2026 6.65 percent 2027 6.70 percent 2028 6.75 percent 2029 6.80 percent 2030 6.85 percent 2031 6.90 percent 2032 6.95 percent 2033 7.00 percent 2034 7.05 percent 2035 7.10 percent 2036 7.15 percent 2037 or thereafter 7.20 percent. . The table in subsection
(a)of section 1401 of the Internal Revenue Code of 1986 is amended to read as follows: In cases of wages The rate of tax received during: shall be: 1990 or any calendar year before 2018 12.40 percent 2018 12.50 percent 2019 12.60 percent 2020 12.70 percent 2021 12.80 percent 2022 12.90 percent 2023 13.00 percent 2024 13.10 percent 2025 13.20 percent 2026 13.30 percent 2027 13.40 percent 2028 13.50 percent 2029 13.60 percent 2030 13.70 percent 2031 13.80 percent 2032 13.90 percent 2033 14.00 percent 2034 14.10 percent 2035 14.20 percent 2036 14.30 percent 2037 or thereafter 14.40 percent. . The amendments made by this section shall apply to remuneration received, and taxable years beginning, after December 31, 2014.