Social Security Max 2024 Tax Attorney. In 2023, the salary limit subject to social security tax is $160,200. The maximum amount of earnings subject to social security tax (taxable maximum) will increase to $168,600 from $160,200.

To fund social security, employers and employees each pay a payroll tax of 6.2% (for a combined 12.4%) of an employee’s annual. We raise this amount yearly to keep pace with increases in average wages.