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Fantom [35]
2 years ago
8

Since the FICA tax is split equally between employers and employees, we can conclude that the incidence of this tax is also equa

lly shared. a. True b. False
Business
1 answer:
shepuryov [24]2 years ago
4 0

Answer:

Since the FICA tax is split equally between employers and employees, we can conclude that the incidence of this tax is also equally shared.

a. True

Explanation:

The incidence of the FICA tax refers to the extent to which an individual employee or the employing organization suffers from the imposition of the FICA tax.  In the final analysis, the incidence may not be borne by the organization but consumers of its goods and services, depending on the elasticity of demand.  Employers and employees usually split the FICA tax equally.  The FICA (Federal Insurance Contribution Act) refers to the federally mandated tax for Social Security and Medicare.

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2 years ago
Enter a logical function in cell F5 that calculates employee FICA withholding. If the employee is full-time and has at least one
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Answer:

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3 years ago
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