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If no one has capped, employer FICA - OASDI taxes withheld on a gross payroll of...

If no one has capped, employer FICA - OASDI taxes withheld on a gross payroll of $116,789 would be: a.$8,934.36. b.$7,240.92. c.$0. d.$1,693.44.

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Answer #1

Gross payroll = $116,789

FICA - OASDI tax rate = 6.2%

FICA - OASDI taxes withheld = Gross payroll x FICA - OASDI tax rate

= $116,789 x 6.2%

= $7,240.92

Correct option is (b)

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