Multiple Choice
Assume that social security taxes are payable at a 6% rate and Medicare taxes are payable at a 1.5% rate with no maximum earnings,and that federal and state unemployment compensation taxes total 4.6% on the first $7,000 of earnings.If an employee earns $2,500 for the current week and the employee's year-to-date earnings before this week were $6,800,what is the total payroll taxes related to the current week?
A) $187.50
B) $196.70
C) $344.50
D) $9.20
Correct Answer:
Verified
Correct Answer:
Verified
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