Multiple Choice
An employee earned $47,000 during the year working for an employer.The FICA tax for social security is 6.2%,and the FICA tax for Medicare is 1.45%.The employee's share of FICA taxes is:
A) $681.50.
B) $2,914.00.
C) $3,595.50.
D) $7,191.00.
E) Zero,since the employee's pay exceeds the FICA limit.
Correct Answer:
Verified
Correct Answer:
Verified
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