Gee hired Able at the beginning of this year at a salary of $100,000. What is...
Gee hired Able at the beginning of this year at a salary of $100,000. What is Gee’s payroll tax on Able’s salary?
|
6,200 |
||
|
7,650 |
||
|
13,300 |
||
|
None of the above |
Homework Answers
$ 7,650
The law requires Gee to pay the Able's portion of these two taxes 6.2% as social security tax + 1.45 % Medical Tax i.e total of 7.65% is to be charged as payroll tax = $ 100,000 X 7.65 % = $ 7,650
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Gee hired Able at the beginning of this year at a salary of
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