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Social Security Contribution and Rate Schedule

(percent of covered earnings)

Year Retirement
survivors,
and
disability
insurance
Hospital
insurance (%)
Total
Employers and Employees
1978 4.95% 1.10% 6.05%
1979–80 5.08 1.05 6.13
1981 5.35 1.30 6.65
1982–83 5.40 1.30 6.70
1984 5.70 1.30 7.00
1985 5.70 1.35 7.05
1986–87 5.70 1.45 7.15
1988–89 6.06 1.45 7.51
1990 & later 6.20 1.45 7.65
Self-employed
1978 7.00% 1.10% 8.10%
1979–80 7.05 1.05 8.10
1981 8.00 1.30 9.30
1982 8.05 1.30 9.35
1983 8.05 1.30 9.35
1984 11.40 2.60 *14.00
1985 11.40 2.70 *14.10
1986–87 11.40 2.90 *14.30
1988–89 12.12 2.90 *15.02
1990 & later 12.40 2.90 *15.30
* The law provides credit against self-employment tax liability in the following manner: 2.7% in 1984; 2.3% in 1985; 2.09% 1986–1989 and, beginning with the 1990 taxable year, the credit is replaced with two special provisions. First, self-employed persons will be allowed a 7.65% deduction from net profit before computing their SECA tax and second, an income tax deduction equal to one-half of the SECA tax.

Information Please® Database, © 2007 Pearson Education, Inc. All rights reserved.

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