1 answer

Item43 2.6points Time Remaining 21 minutes 19 seconds 00:21:19 Item 43 Item 43 2.6 points Time...

Question:

Item43

2.6points

Time Remaining 21 minutes 19 seconds

00:21:19

Item 43

Item 43 2.6 points

Time Remaining 21 minutes 19 seconds

00:21:19

An employee earned $62,100 during the year working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400 of employee earnings per calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. What is the amount of total unemployment taxes the employee must pay?

Multiple Choice

  • $0.00

  • $56.00

  • $434.00

  • $378.00


Answers

Option A is the answer ($0)
The payment of unemployment taxes i.e federal unemployment taxes payable and state unemployment taxes payable are responsibilities of the employer, not employee
.

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