You may also adopt an operating agreement. A single member of the LLC or an unlimited number of members may set up a Minnesota LLC. Members of a Minnesota LLC may include individuals, corporations, other LLCs, foreign entities or partnerships.
Different rates apply for these taxes. The current tax rate for Social Security is 6.2% for the employer and 6.2% for the employee, or 12.4% total. The current rate for Medicare is 1.45% for the employer and 1.45% for the employee, or 2.9% total.
Employee Social Security /OASDI and Medicare. The year 2015 Social Security/OASDI tax rate for employees is 6.2 percent. The Medicare tax rate remains at 1.45 percent. The Social Security/OASDI maximum wage base increases to $118,500 for 2015.There continues to be no cap on the Medicare wage base.he year 2015 Social Security/OASDI tax rate for employees is 6.2 percent. The Medicare tax rate remains at 1.45 percent. The Social Security/OASDI maximum wage base increases to $118,500 for 2015.