Jillian,a Single Individual,earns $230,000 in 2016 Through Her Job as an Accounting

question 22

Multiple Choice

Jillian,a single individual,earns $230,000 in 2016 through her job as an accounting manager.What is her FICA tax?

• A)$10,952
• B)$10,682
• C)$10,589
• D)$9,065

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Definitions:

Excise Tax

A tax imposed on specific goods, services, or transactions, often with the aim of reducing their consumption or raising government revenue.

Lung Cancer

A type of cancer that originates in the lungs, often associated with smoking and exposure to hazardous pollutants.

Benefits-Received Tax

A taxation principle where taxes are levied on individuals based on the benefits they receive from the government's use of the collected tax.

Vertical Equity

A principle in taxation that proposes taxpayers with a greater ability to pay, such as higher income levels, should pay more in taxes than those with lesser ability to pay.