Sec. 214. Repeal of Medicare tax increase
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Subsection
(b)of section 3101 of the Internal Revenue Code of 1986 is amended to read as follows: In addition to the tax imposed by the preceding subsection, there is hereby imposed on the income of every individual a tax equal to 1.45 percent of the wages (as defined in section 3121(a)) received by such individual with respect to employment (as defined in section 3121(b)). . Subsection
(b)of section 1401 of the Internal Revenue Code of 1986 is amended to read as follows: In addition to the tax imposed by the preceding subsection, there shall be imposed for each taxable year, on the self-employment income of every individual, a tax equal to 2.9 percent of the amount of the self-employment income for such taxable year. . The amendments made by this section shall apply with respect to remuneration received after, and taxable years beginning after, December 31, 2017.