Solution-What the employer total fica payroll tax for the

What the employer total fica payroll tax for the employee

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Reference no: EM132930664

Problem 1: An employee earned $42,400 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:

Multiple Choice

Option 1: $0, since the FICA tax is only deducted from an employee's pay.

Option 2: $614.80.

Option 3: $3,243.60.

Option 4: $2,628.80.

Option 5: $6,487.20.

Reference no: EM132930664

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What the employer total fica payroll tax for the employee

Reference no: EM132930664

Reference no: EM132930664

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