The FICA Social Security tax rate is $6\mathrm{.}2\%$ on the first $ $142$ comma $800$earned$,$ and FICA Medicare is $1\mathrm{.}45\%$ on all earnings. Federal unemployment tax is $0\mathrm{.}6\%$ on the first$$ $$7,000$ earned by each employee. The SUTA tax rate for Old Company is $5\mathrm{.}7\%$ on the first$$ $$7,000$ of employee earnings for state unemployment purposes.