According to the Social Security Administration, the maximum earnings subject to Social Security tax, also known as the taxable maximum, will be $160,200 in 2023. This means that an individual with wages equal to or larger than $160,200 would contribute $9,932.40 to the Social Security program in 2023, and their employer would contribute the same amount. It is important to note that there is no limit on the amount of earnings subject to Medicare tax.