Medicare Employer Tax Rate 2024 Nyc. The medicare tax rate for employers in 2024 is set at 1.45% on all employee earnings, with no cap on the maximum income subject to medicare tax. There is no limit on the amount of wages subject to medicare tax.
If you work for an employer, you are responsible for half of the total bill (7.65%), which includes a 6.2% social security tax and 1.45% medicare tax on your. The additional medicare tax is paid by employees.