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

question 97

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 $118,500 maximum per calendar year and the rate for FICA Medicare 1.45% of all earnings. 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, since the FICA tax is only deducted from an employee's pay.