Solution-Compute the employer total payroll taxes expense

Compute the employer total payroll taxes expense

Reference no: EM131798277

Question - A company's employees had the following earnings records at the close of the current payroll period:

The company's payroll taxes expense on each employee's earnings includes: FICA Social Security taxes of 6.2% on the first $84,900 plus 1.45% FICA Medicare on all wages; 0.8% federal unemployment taxes on the first $7,000; and 2.5% state unemployment taxes on the first $7,000. Compute the employer's total payroll taxes expense for the current pay period.

Reference no: EM131798277

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Compute the employer total payroll taxes expense

Reference no: EM131798277

Reference no: EM131798277

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