Examlex
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Net Pay
The amount of money received by an employee after all deductions, such as taxes and retirement contributions, have been subtracted from their gross salary.
Social Security Tax
A mandatory tax levied on both employees and employers to fund the Social Security program, which provides retirement, disability, and survivorship benefits.
Federal Income Taxes
Taxes levied by the federal government on individuals' and organizations' annual earnings.
Unemployment Taxes
Taxes employers pay to federal and state governments to fund unemployment benefits for workers who lose their jobs.
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