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kenny6666 [7]
3 years ago
15

Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of 8,638. The

FICA tax for social security is 6.2% of the first $118,500 of employee earnings each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1,433.27. Her net pay for the month is ________.
Business
1 answer:
mina [271]3 years ago
4 0

Answer:

Net Pay = Gross Pay - Federal Income Tax - FICA-SS Tax - FICA-Medicare Tax

Net Pay = $8,260.00 - $1,325.17- $512.12 - $119.77* = $6,302.94

Explanation:

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