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If the Social Security Tax Rate Is 7

Question 145

Multiple Choice

If the Social Security tax rate is 7.65 percent (6.2% FICA plus 1.45% Medicare) and the maximum taxable yearly earnings is $117,000,how much Social Security tax would be paid by an employee earning $127,000?


A) $8,950.50
B) $9,095.50
C) $9,715.50
D) $18,910

Correct Answer:

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