Self-Employment Contributions Act

URI: https://gptkb.org/entity/Self-Employment_Contributions_Act
GPTKB entity
Statements (29)
Predicate Object
gptkbp:instanceOf gptkb:United_States_federal_law
gptkbp:abbreviation gptkb:SECA
gptkbp:administeredBy gptkb:Internal_Revenue_Service
gptkbp:appliesTo independent contractors
self-employed individuals
sole proprietors
partners in a partnership
gptkbp:codifiedIn gptkb:Internal_Revenue_Code
gptkb:26_U.S.C._Chapter_2
gptkbp:dateEnacted 1954
gptkbp:enactedBy gptkb:United_States_Congress
gptkbp:excludes certain nonresident aliens
certain religious groups
gptkbp:form gptkb:Schedule_SE_(Form_1040)
https://www.w3.org/2000/01/rdf-schema#label Self-Employment Contributions Act
gptkbp:maximumSocialSecurityEarningsAsOf2023 $160,200
gptkbp:MedicareEarningsLimit no limit
gptkbp:MedicareRate 2.9%
gptkbp:purpose to impose Social Security and Medicare taxes on self-employed individuals
gptkbp:rateAsOf2023 15.3%
gptkbp:relatedTo gptkb:Social_Security_Act
gptkb:Federal_Insurance_Contributions_Act
gptkb:Medicare_Program
gptkbp:SocialSecurityRate 12.4%
gptkbp:taxStatus gptkb:Medicare
Social Security
payroll tax
gptkbp:bfsParent gptkb:Old-Age,_Survivors,_and_Disability_Insurance
gptkbp:bfsLayer 5