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 $127,200 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
Q57: The current FUTA tax rate is 0.6%,and
Q61: The annual Federal Unemployment Tax Return is:
A)
Q76: Estimated liabilities commonly arise from all of
Q98: Portia Grant is an employee who is
Q99: Trey Morgan is an employee who is
Q105: Gary Marks is paid on a monthly
Q106: An employee earned $62,500 during the year
Q107: A company sold $12,000 worth of bicycles
Q116: The deferred income tax liability:
A)Arises when income
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