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 $128,400 maximum per year and the rate for FICA Medicare 1.45%. The employer's total FICA payroll tax for this employee is:
A. $5,638.05.
B. $3,312.45.
C. $8,950.50.
D. $2,684.60.
E. $0, since the FICA tax is only deducted from an employee's pay.
Answer: B
You might also like to view...
The town of Genter recently witnessed a devastating hurricane that crippled the town's infrastructure. Q-Mart, a retail chain that plans to open a new retail store in Genter, organizes a program to help the people of Genter
The program consists of providing free meals to those who lost their dwellings in the hurricane. What section of the marketing microenvironment is Q-Mart most likely trying to reach? A) suppliers B) marketing intermediaries C) local publics D) competitors E) employees
When enacted tax rates change, the asset and liability method of interperiod tax allocation recognizes the rate change as
a. a cumulative effect adjustment. b. an adjustment to be netted against the current income tax expense. c. a separate charge to the current year's net income. d. a separate charge or benefit to income tax expense.
Compare and contrast order-getters and order-takers. What types of sales roles fit into these categories?
What will be an ideal response?
________ presents products or services in a positive manner, in an effort to attract customers, clients, or patients.
A. Customer/Client/Patient surveys B. Public relations C. Promoting D. Advertising