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Required information [The following information applies to the questions displayed below. Joseph Farmer earned $124,200 in 2019 for a company in Kentucky. He is single
Required information [The following information applies to the questions displayed below. Joseph Farmer earned $124,200 in 2019 for a company in Kentucky. He is single with one withholding allowance and is paid annually. The FUTA rate in Kentucky for 2019 is 0.6 percent on the first $7,000 of employee wages, and the SUTA rate is 5.4 percent with a wage base of $10,500. Use the percentage method withholding tables in Appendix C and the state information in Appendix D. Use Figure 5.4. Required: Compute the following employee share of the taxes. (Round your answers to 2 decimal places.) Federal income tax withholding Social Security tax Medicare tax State income tax withholding Required information [The following information applies to the questions displayed below.] Joseph Farmer earned $124,200 in 2019 for a company in Kentucky. He is single with one withholding allowance and is paid annually. The FUTA rate in Kentucky for 2019 is 0.6 percent on the first $7,000 of employee wages, and the SUTA rate is 5.4 percent with a wage base of $10,500. Use the percentage method withholding tables in Appendix C and the state information in Appendix D. Use Figure 5.4. Required: Compute the employer's share of the taxes. (Round your answers to 2 decimal places.) Federal income tax withholding Social Security tax Medicare tax FUTA tax SUTA tax State income tax withholding
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