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Alik [6]
2 years ago
14

Determine the total annual FICA tax for an annual salary of $110,330. Use $106,800 for maximum taxable earningsa.$822.14b.$844.0

2c.$8,221.39d.$8,440.24
Mathematics
2 answers:
Citrus2011 [14]2 years ago
7 0
The answer is $8,221.39
Agata [3.3K]2 years ago
5 0
<span>The Federal Insurance Contributions Act (FICA) requires employers to withhold a certain percentage of an employee's income as tax. The categories are: 6.2% as social security tax 1.45% as Medicare tax 0.9% as Medicare surtax for employees earning more than $200,000 In this case, the percentage of tax applied will be 6.2 + 1.45 = 7.65% The FICA tax will be 110,330 * 0.0765 FICA tax = $8,440.24</span>
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