Renee is a salaried exempt employee who earns an annual salary of $64,200, which is paid semimonthly. She is married with four withholding allowances. What is her total FICA tax liability per pay period? (Do not round intermediate calculations. Round your ﬁnal answer to 2 decimal places.)

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Quizplus · Accepted Answer

FICA tax includes Social Security (6.2%) and Medicare (1.45%). Renee's annual salary is $64,200, so her FICA tax rate is 7.65%. Her semimonthly pay is $64,200 / 24 = $2,675. FICA tax per pay period is $2,675 * 7.65% = $204.64.

Renee Is a Salaried Exempt Employee Who Earns an Annual