Commenting on Tanzania 's 2025 Millennium Development Goal Tanzanian Prime Minister Mizengo Pinda said only 12 years remained and the Tanzanian government is focussed on applying the Big Results Now initiative to ensure there is clear implementation of various projects.
The maximum Social Security tax in 2017 will be $7,886.40 per employee, which represents a pretty big increase over 2016. That's the simple answer. Below, find out why the maximum Social Security tax is increasing so much, whether the increase will affect you, and what to expect in the coming years.
Since 2013, the employee's share of the Social Security portion of the FICA tax has been 6.2% of gross compensation up to a limit that adjusts with inflation. The taxation limit in 2014 was $117,000 of gross compensation, resulting in a maximum Social Security tax for 2014 of $7,254.