How much is self-employment tax?

Federal self-employment tax is 15.3% — made of 12.4% for Social Security and 2.9% for Medicare — applied to 92.35% of your net profit. Social Security stops at the annual wage base ($168,600 in 2024), while Medicare applies to all earnings, with an extra 0.9% above $200,000.

Why is profit multiplied by 92.35%?

The 92.35% factor accounts for the employer-equivalent half of SE tax that an employee would not pay income tax on. Multiplying net profit by 0.9235 gives your net earnings from self-employment, the base the 15.3% rate is applied to.

Does Missouri tax self-employment income?

Yes. Missouri taxes self-employment profit as ordinary income at its graduated rates (top 4.8% in 2024). You can deduct half of your federal SE tax and the standard deduction before applying Missouri's brackets, which lowers your state taxable income.

Can I deduct half my SE tax?

Yes. Half of the federal self-employment tax is an above-the-line deduction that reduces income for income-tax purposes, both federally and on your Missouri return. This calculator subtracts that half before computing Missouri state tax.

Does this include federal income tax?

No. This tool covers the 15.3% federal SE tax and Missouri state income tax only. Federal income tax depends on your full return, brackets, and credits, so add it separately when planning quarterly estimated payments.

Missouri Self-Employment Tax Calculator

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The Missouri Self-Employment Tax Calculator shows what 1099 and freelance income costs you. Two layers apply: the federal SE tax of 15.3% (12.4% Social Security + 2.9% Medicare) on 92.35% of your net profit, and Missouri state income tax at graduated rates topping out at 4.8%.

How it works

The federal SE tax comes first, then half of it lowers your state taxable income:

SE earnings = net profit x 0.9235
SS tax      = min(SE earnings, wage base) x 12.4%
medicare    = SE earnings x 2.9% (+0.9% over $200,000)
SE tax      = SS tax + medicare

half SE tax = SE tax / 2  (deductible)
MO taxable  = net profit - half SE tax - standard deduction
MO tax      = graduated brackets on MO taxable

total tax   = SE tax + MO tax

Subtracting half the SE tax before Missouri’s brackets prevents you from being taxed twice on the employer-equivalent portion.

Example and notes

A sole proprietor with $80,000 net profit, single filer:

SE earnings: 80,000 x 0.9235 = $73,880
SE tax: 73,880 x 15.3% = ~$11,304
half SE tax: ~$5,652
MO taxable: 80,000 - 5,652 - 14,600 = ~$59,748
MO state tax: ~$2,650
total: ~$13,950

Federal income tax is separate — add it for full quarterly estimates.
Pay SE tax and income tax via quarterly Form 1040-ES and Missouri MO-1040ES.
Estimate only — runs in your browser.