Question
Vulcra, Inc., has a semimonthly payroll of $66,440 on September 15. The total payroll is taxable under FICA Taxes-HI; $63,710 is taxable under FICA Taxes-OASDI;
Vulcra, Inc., has a semimonthly payroll of $66,440 on September 15. The total payroll is taxable under FICA Taxes-HI; $63,710 is taxable under FICA Taxes-OASDI; and $10,430 is taxable under FUTA and SUTA. The state contribution rate for the company is 4.1%. The amount withheld for federal income taxes is $9,994. The amount withheld for state income taxes is $1,484.
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Fundamentals Of Accounting
Authors: Claudia Gilbertson
10th Edition
1111581169, 978-1111581169
