The total annual FICA tax for an annual salary of $38,480 is D $2,943.72.
<h3>What is the FICA tax?</h3>
FICA tax comprises Social security tax + Medicare tax.
Where: Social security tax=6.2%, Medicare tax=1.45%, FICA tax =7.65%
The total annual fica tax for an annual salary of $38,480 is given by;
FICA tax=($38,480×6.2%)+($38,480×1.45%)
FICA tax=$2,385.76+$557.96
FICA tax= $2,943.72
Hence, the total annual FICA tax for an annual salary of $38,480 is D $2,943.72.
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