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Compute the employer's payroll tax expense based on the following totals found on a completed payroll register dated November 15. Gross pay = $40,500.00 Taxable
Compute the employer's payroll tax expense based on the following totals found on a completed payroll register dated November 15.
Gross pay = $40,500.00
Taxable earnings for FUTA/SUTA = $1,460.00
Taxable earnings for OASDI = $36,000.00 Deductions: FIT = $6,330.00; SIT = $1,620.00; FICA OASDI = $2,232.00; FICA Medicare = $587.25
Other information: FUTA rate = .6%; SUTA rate = 2.7%
FICA OASDI $36,000
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