An employee earned $128,500 working for an employer in the current year. The current rate for FICA Social Security is 6.2% payable on earnings up to $118,500 maximum per year and the rate for FICA Medicare 1.45% of all earnings. The employer's total FICA payroll tax for this employee is:

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The employer's total FICA payroll tax for this employee is $9,210.25. This is calculated as follows:FICA Social Security tax: $118,500 x 6.2% = $7,347FICA Medicare tax: $128,500 x 1.45% = $1,863.25Total FICA payroll tax: $7,347 + $1,863.25 = $9,210.25

An Employee Earned $128,500 Working for an Employer in the Current