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An employee receives an hourly rate of $45, with time and a half for all hours worked in excess of 40 during the week. Payroll data for the current week are as follows: hours worked, 48; federal income tax withheld, $950; social security tax rate, 6.0%; and Medicare tax rate, 1.5%; state unemployment compensation tax, 5.4% on the first $7,000; federal unemployment compensation tax, 0.8% on the first $7,000.
Calculate the employer's payroll tax expense if:
(a) this is the first payroll of the year and the employee has no cumulative earnings for the year to date.
(b) the employee's cumulative earnings for the year prior to this week equal $6,200.
Affluence
The state of having a great deal of wealth or material goods; wealthiness.
American Families
Social units in the United States comprising individuals related by blood, marriage, or adoption, characterized by diverse structures and cultural practices.
Family Vacation
A holiday taken by family members together, typically for relaxation and recreation, away from the usual environment and responsibilities.
Civil Rights Achievement
A milestone or significant progress made in the fight for equal rights and liberties for individuals, particularly in the context of racial, gender, and social equity.
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