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28 An employee earned $62,000 during the year working for an employer. The FICA tax rate for Social Security is 6.2% of the first $132,900
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An employee earned $62,000 during the year working for an employer. The FICA tax rate for Social Security is 6.2% of the first $132,900 of employee earnings per calendar year, and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. What is the amount of total unemployment taxes the employee must pay? Multiple Choice $101.50 $56.00 $378 00 $434.00 Multiple Choice O $101.50 O $56.00 O $378.00 $434.00 $0.00 Step by Step Solution
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