An Employee Earned $43,300 Working for an Employer in the Current

question 73

Multiple Choice

An employee earned $43,300 working for an employer in the current year. The current rate for FICA Social Security is 6.2% payable on earnings up to $117,000 maximum per year and the rate for FICA Medicare is 1.45%. The employer's total FICA payroll tax for this employee is:

• A)$8,950.50.
• B)$5,638.05.
• C)$3,312.45.
• D)$2,684.60.
• E)$0

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Captured Agency

A regulatory agency that, instead of serving the public interest, acts in favor of the industries it is supposed to regulate.

Hybrid Rules

Regulations or guidelines that blend elements from different sources or systems, often applied in complex or interdisciplinary fields.

Administrative Procedures Act

A United States federal statute that governs the way administrative agencies of the federal government may propose and establish regulations.

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