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Identify/define and explain the significance of the following: Ferdinand Magellan.
Medicare Taxes
Taxes collected from earnings to fund the Medicare program, providing health insurance to individuals aged 65 and older or those who meet specific criteria.
FUTA
The Federal Unemployment Tax Act, which imposes a payroll tax on businesses to fund state workforce agencies.
SUTA
State Unemployment Tax Act, the legislation enabling state governments to collect unemployment insurance taxes from employers.
State Rate
A specific tax or fee rate determined by a state government, often applied to sales, income, or property.
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