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What is a distributional interest? Explain the terms of its transfer.
FICA - Medicare
A payroll tax that funds the Medicare program, split between employers and employees, based on a percentage of earned wages.
Gross Pay
The gross income of an employee, which is the sum of all earnings before any deductions or taxes are applied.
Chief Executive Officer
The highest-ranking executive in a company, responsible for the overall operations, making major corporate decisions, and setting strategic goals.
FUTA Tax
The Federal Unemployment Tax Act (FUTA) tax is a payroll tax paid by employers to help fund state workforce agencies.
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