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.
Your FICA tax is comprised of contributions to two benefit programs, the Old-Age, Survivors, and Disability Insurance, or OASDI, and the Hospital Insurance known as Medicare A. Employers and employees pay the same FICA contribution rates. Unlike Social Security taxes, there is no upper limit to the Medicare tax.