10: Scott is an employee at Company G and is paid monthly. For the month of January, he earned a total of $8,500. The tax for social security is 6.2% of the first $145,000 of employee earnings each calendar year and the tax rate for Medicare is 1.45% of all earnings.

The FUTA tax rate of .6% is applied on ALL Earnings. The SUTA tax rate of 5.4% is applied to the first $6,000 of an employee's pay. The amount of federal income tax withheld from Scotts earnings was $1,325.17.

Scotts net pay for the month is: