An employee earned $43,300 working for an employer in the current year.The current rate for FICA Social Security is 6.2% payable on earnings up to $117,000 maximum per year and the rate for FICA Medicare 1.45%.The employer's total FICA payroll tax for this employee is:
A) $8,950.50.
B) $5,638.05.
C) $3,312.45.
D) $2,684.60.
E) $0,since the FICA tax is only deducted from an employee's pay.
Correct Answer:
Verified
Q44: Which of the following is not true
Q45: Trey Morgan is an employee who is
Q46: An employee earned $62,500 during the year
Q47: The current FUTA tax rate is 0.6%,and
Q48: Employer payroll taxes:
A)Are added expenses beyond that
Q50: Portia Grant is an employee who is
Q52: The rate that a state assigns reflecting
Q53: FUTA taxes are:
A)Social Security taxes.
B)Medicare taxes.
C)Employee income
Q54: The Wage and Tax Statement given to
Q61: The annual Federal Unemployment Tax Return is:
A)
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents