Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of $8738.00. The FICA tax for social security is 6.2% of the first $128,400 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first $7000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1449.87. What is the total amount of taxes withheld from the Portia's earnings? (Round your intermediate calculations to two decimal places.)
A. $2118.33
B. $2552.33
C. $2172.00
D. $3621.87
E. $1576.57
Answer: A
You might also like to view...
Participating appropriately as a citizen and being economically stable are among tangible commodities that a community expects from resident organizations
Indicate whether the statement is true or false
In a transshipment problem, shipments
a. cannot occur between two origin nodes. b. cannot occur between an origin node and a destination node. c. cannot occur between a transshipment node and a destination node. d. can occur between any two nodes.
Every time we break up a relation during the normalization process, we may have to create a referential integrity constraint
Indicate whether the statement is true or false
The Sarbane-Oxley Act addresses insider trading by members of Congress
Indicate whether this statement is true or false.