Medicare tax
Definition from Nolo’s Plain-English Law Dictionary
A portion of the FICA (Federal Insurance Contributions Act) tax that is 2.9% of an individual's net earned income. The employee's share of the Medicare tax is 1.45% of all wages. The employer's share of the Medicare tax is 1.45% of an employee's wages.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:19 pm
