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Revision as of 04:55, 22 August 2026
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The 'payroll' tax applies at a limited percentage of the working income - no brackets. With regard to employee, pay out 6.2% of one's working income for Social Security (only up to $106,800 income) and 12.45% of it for Medicare (no limit). Together they take even more 7.65% of your income. There's no transfer pricing tax threshold (or tax free) involving income in this system.
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