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Current Liabilities and Payroll , Accounting, Basic Statistics
Prior to the last payroll period of the calendar year, the cumulative earnings of Employer A were $105000. The earnings for the last payroll period of the year which will be paid on December 30, are 3500. The Social Security tax is 6% on the first $100,000 of the annual earnings, and the Medicare tax rate is 1.5% on all earnings. What is the employers total FICA tax on the salary?
Posted Date: 2/2/2012 5:24:58 PM | Location : United States
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