Hello. I was wondering if similar to the "federal" social security (SS) tax, there's a wage limit for California SS tax on self-employment income?
In other words, is there a California (state) dual to $160,200 federal wage limit on 12.4% SS tax on SE income?
Thanks so much in advance!
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There is no state tax for SS & Medicare on self employment. So no wage limit. So there is no adjustment for CA.
Thanks for your response. Isn't it the case that the state (California) tax on self-employment is 15.3% = 12.4% SS + 2.9% Medicare? So I wanted to know if there is a wage limit on the 12.4% portion of SS?
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