Question
Thomas Longbow is the only employee of Presido, Inc. During the first week of January, Longbow earned $1,800.00 and had federal and state income tax
Thomas Longbow is the only employee of Presido, Inc. During the first week of January, Longbow earned $1,800.00 and had federal and state income tax withholdings of $90.00 and $33.75, respectively. FICA taxes are 7.65% on earnings up to $117,000. State and federal unemployment taxes for the period are $112.50 and $18.00, respectively.
What is Presido's payroll tax expense for the week?
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Treasury Financial Manual Volume II III And IV
Authors: US Treasury
1st Edition
1790321824, 978-1790321827
