Examlex
Briefly explain different terms of sale used in practice.
State Tax Rate
The percentage at which individuals or businesses within a state are taxed by the state government.
FICA
The Federal Insurance Contributions Act; a U.S. law that requires a deduction from paychecks to fund Social Security and Medicare benefits.
OASDI
The Old-Age, Survivors, and Disability Insurance program, part of the U.S. Social Security system, providing benefits to eligible retirees, their families, and the disabled.
Medicare
A federal health insurance program in the United States for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease.
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