Social Security 2024 Limit Tax. More states are likely to stop taxing social security payments, with west virginia and utah appearing to be next in line. Individual taxable earnings of up to $168,600 annually will be subject to social security tax in 2024, the social security administration (ssa) announced thursday.

In 2024, the social security tax rate is 6.2% for employers and employees, unchanged from 2023. Nearly 3 million people could receive a boost in social security payments under legislation set for a final senate vote in the coming days.