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Total earnings are subject to 6.2% employee and 6.2% employer social security tax, plus 1.45% employee and 1.45% employer Medicare tax. The FUTA tax rate
Total earnings are subject to 6.2% employee and 6.2% employer social security tax, plus 1.45% employee and 1.45% employer Medicare tax. The FUTA tax rate is 0.8%, and the state SUTA tax rate is 5.4% of total earnings. No total earnings have exceeded the tax base for calculating unemployments taxes. Using Webster Company's payroll data shown here, calculate the appropriate liability amounts of social security and Medicare taxes for March, the FUTA tax for the first quarter, and the SUTA tax for the first quarter. QUESTION ASSETS Type of Tax Taxable Amount Rate Payable Tax Payroll Data: March Payroll Data: First Quarter Social Security $ % = $ COA Medicare $ % = $ Federal Unemployment $ State Unemployment $ TOTAL SCORE: 0/5 unnamed (3) ing % = $ % Total Earnings: $21,640.00 Federal Income Tax Withheld: $1,395.00 Step 1 be next step) ntinue jut saving
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