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An employee earned $42,900 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 $42,900 working for an employer in the current year. The current rate for FICA Social Security is 6.2% payable on earnings up to $128,400 maximum per year and the rate for FICA Medicare 1.45%. The employer's total FICA payroll tax for this employee is:
Multiple Choice
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$0, since the FICA tax is only deducted from an employee's pay.
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$2,659.80.
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$622.05.
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$6,563.70.
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$3,281.85.
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