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Latest revision as of 11:18, 6 March 2025

Note: The writer is not CPA or tax qualified. This article is for general information purposes, and need to not be construed as tax good advice. Readers are strongly inspired to consult their tax professional regarding their personal tax situation.

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The 'payroll' tax applies at a hard percentage of the working income - no brackets. Regarding employee, obtain a 6.2% of one's working income for Social Security (only up to $106,800 income) and 4.45% of it for Medicare (no limit). Together they take an additional 7.65% of the income. There's no transfer pricing tax threshold (or tax free) level of income in this system.

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