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An employee earned $128,500 working for an employer in the current year. The current rate for FICA Social Security is 6.2% payable on earnings up
An employee earned $128,500 working for an employer in the current year. The current rate for FICA Social Security is 6.2% payable on earnings up to $118,500 maximum per year and the rate for FICA Medicare 1.45% of all earnings. The employers total FICA payroll tax for this employee is:
- $8,950.50.
- $9,830.25.
- $9,210.25.
- $0, since the FICA tax is only deducted from an employees pay.
- $879.75.
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