BMX Company has one employee. For 2020, FICA Social Security taxes are 6.2% of the first $137,700
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BMX Company has one employee. For 2020, FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% of the first $7,000 and SUTA (State Unemployment) taxes are 3% of the first $8,500 paid to each employee.
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