From the following information, calculate the payroll tax expense for Caterer Company for the payroll of April
Question:
From the following information, calculate the payroll tax expense for Caterer Company for the payroll of April 9:
The FICA Social Security tax rate is 6.2% on the first $142,800 earned, and FICA Medicare is 1.45% on all earnings. Federal unemployment tax is 0.6% on the first $7,000 earned by each employee. The SUTA tax rate for Caterer Company is 5.7% on the first $7,000 of employee earnings for state unemployment purposes.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
College Accounting A Practical Approach Chapters 1-25
ISBN: 9780137504282
15th Edition
Authors: Jeffrey Slater, Mike Deschamps
Question Posted: