â¢ MINOR PREMISE (noun) The noun MINOR PREMISE has 1 sense: 1. the premise of a syllogism that contains the minor term (which is the subject of the conclusion) Familiarity information: MINOR PREMISE used as a noun is very rare.
The additional tax rate is 0.9% on employee income (employers do not have to contribute to this additional tax). The additional Medicare tax is effective for income over a specific level, depending on the individual's federal income tax filing status.
The 2015 FICA tax rate is 6.2% for the employee and 6.2% for the employer up to the wage base limit of $118,500. The current Medicare tax rate is 1.45% for both the employee and employer. There is no wage base limit for Medicare tax.