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A company's employer payroll tax rates are 0.6% for federal unemployment taxes, 5.4% for state unemployment taxes, 6.2% for FICA social security taxes on earnings
A company's employer payroll tax rates are 0.6% for federal unemployment taxes, 5.4% for state unemployment taxes, 6.2% for FICA social security taxes on earnings up to $128,400, and 1.45% for FICA Medicare taxes on all earnings. Compute the W-2 Wage and Tax Statement information required below for one of the following employees: Employee Withheld Gross Earnings Federal Income Taxes A. Baylor... C. Jasmine, W-2 Information: $114,000 $2,000 Federal Income Tax Withheld. Wages, Tips, Other Compensation.. Social Security Tax Withheld.. Social Security Wages... Medicare Tax Withheld. Medicare Wages. $17,600 8,200 A. Baylor C. Jasmine
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