Jeremiah is a full-time exempt employee who earns an annual salary of $215,000. What is the employer's annual FICA tax responsibility for Jeremiah's salary, based on an annual Social Security tax wage base of $127,200?

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Quizplus · Accepted Answer

The employer's annual FICA tax responsibility for Jeremiah's salary is $11,003.90. This is calculated as follows:Social Security tax: 6.2% x $127,200 = $7,898.40Medicare tax: 1.45% x $127,200 = $1,845.50Total FICA tax: $7,898.40 + $1,845.50 = $11,003.90

Jeremiah Is a Full-Time Exempt Employee Who Earns an Annual