Multiple Choice
An employee earned $138,500 working for an employer in the current year.The current rate for FICA Social Security is 6.2% payable on earnings up to $127,200 maximum per year and the rate for FICA Medicare 1.45% of all earnings.The employer's total FICA payroll tax for this employee is:
A) $9,894.65.
B) $10,595.65.
C) $9,730.80.
D) $2,008.25.
E) $0,since the FICA tax is only deducted from an employee's pay.
Correct Answer:
Verified
Correct Answer:
Verified
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