Crucially, this need not be, and should not be, a matter of raising taxes in the aggregate. The proceeds from a gasoline tax ought to be used to finance cuts in other taxesâthis, surely, is the way to present them to a sceptical electorate.
Social Security and Medicare Withholding Rates. 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.
These taxes are NOT deducted from the employeeâs paychecks; instead it is a cost born entirely by the employer. Employers will pay an effective tax rate of between .535% and 9.98% on the first $9,500 in annual wages paid to each employee.So for each employee the company employs the company will pay between $50.83 and $948.10 in Indiana unemployment taxes per year.The employer tax rate is calculated each year and is based on the history of the company.Employers who never lay off employees will eventually pay the minimum rate.o for each employee the company employs the company will pay between $50.83 and $948.10 in Indiana unemployment taxes per year. The employer tax rate is calculated each year and is based on the history of the company. Employers who never lay off employees will eventually pay the minimum rate.