Social Security Tax Limit 2024 Withholding Rate. The social security limit is $168,600 for 2024, meaning any income you make over $168,600 will not be subject to social security tax. What is the social security withholding rate for employees in 2024?

Adjust their payroll systems to account for the higher taxable wage base under the social security payroll tax. The wage base or earnings limit for the 6.2% social security tax rises every year.