Determine the scott net pay for the month

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Question - Scott is an employee at Company G and is paid monthly. For the month of January, he earned a total of $8,500. The tax for social security is 6.2% of the first $145,000 of employee earnings each calendar year and the tax rate for Medicare is 1.45% of all earnings.

The FUTA tax rate of .6% is applied on ALL Earnings. The SUTA tax rate of 5.4% is applied to the first $6,000 of an employee's pay. The amount of federal income tax withheld from Scott's earnings was $1,325.17. Determine the Scott's net pay for the month?

Reference no: EM133185558

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