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Demonstrate how do the employer payroll taxes

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During January, Luxury Cruise Lines incurs employee salaries of $1.7 million. Withholdings in January are $130,050 for the employee portion of FICA, $255,000 for federal income tax, $106,250 for state income tax, and $17,000 for the employee portion of health insurance (payable to Blue Cross Blue Shield). The company incurs an additional $105,400 for federal and state unemployment tax and $51,000 for the employer portion of health insurance.

Question 1: Demonstrate How do the employer payroll taxes?

Reference no: EM132551423

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