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Thomas Longbow is the only employee of Presido, Incorporated During the first week of January, Longbow earned $4,000.00 and had federal and state income tax
Thomas Longbow is the only employee of Presido, Incorporated During the first week of January, Longbow earned $4,000.00 and had federal and state income tax withholdings of $200.00 and $75.00, respectively. FICA taxes are 7.65% on earnings up to $132,900. State and federal unemployment taxes for the period are $250.00 and $40.00, respectively. What is Presido's payroll tax expense for the week? Multiple Choice $596.00 $565.00 $1,177.00 $871.00
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