Federal Insurance Contributions Act tax

URI: https://gptkb.org/entity/Federal_Insurance_Contributions_Act_tax
GPTKB entity
Statements (28)
Predicate Object
gptkbp:instanceOf gptkb:tax_law
gptkbp:abbreviation gptkb:FICA_tax
gptkbp:additionalRate 0.9% Medicare (high earners, employee only)
gptkbp:appliesTo wages
earned income
self-employment income
gptkbp:codifiedIn gptkb:Title_26,_United_States_Code,_Section_3101_et_seq.
gptkbp:compatibleWith some religious groups
certain state and local government employees
gptkbp:country gptkb:United_States
gptkbp:dateEnacted 1935
gptkbp:enactedBy gptkb:United_States_Congress
gptkbp:fundedBy gptkb:Medicare_Hospital_Insurance_(HI)
gptkb:Old-Age,_Survivors,_and_Disability_Insurance_(OASDI)
https://www.w3.org/2000/01/rdf-schema#label Federal Insurance Contributions Act tax
gptkbp:imposedBy gptkb:federal_government_of_the_United_States
gptkbp:maximumWageBase applies to Social Security portion
gptkbp:noMaximumWageBase applies to Medicare portion
gptkbp:notableCollection gptkb:Internal_Revenue_Service
gptkbp:purpose fund Medicare
fund Social Security
gptkbp:rating 1.45% Medicare (employee)
1.45% Medicare (employer)
6.2% Social Security (employee)
6.2% Social Security (employer)
gptkbp:relatedTo gptkb:Self-Employment_Contributions_Act_tax
gptkbp:bfsParent gptkb:FICA_tax
gptkbp:bfsLayer 5