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chubhunter [2.5K]
3 years ago
6

Determine the total annual FICA tax for an annual salary of $38,480. A. $294. 37 b. $717. 96 c. $2,385. 76 d. $2,943. 72.

SAT
1 answer:
matrenka [14]3 years ago
7 0
Answer:
d. $2,943.72 is the total annual FICA tax for an annual salary of $38,480.

Explanation:
6.2% of the annual salary for the Social Security Tax, and 1.45% of the annual salary for the Medicare Tax. In total, FICA takes 7.65% of your annual salary as tax. $38,480 x 7.65% = $2,943.72.
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