. BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid...

.

Transcribed Image Text:

BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. Gross Pay through August 31 Gross Pay for September $2,400 a. $ 5,200 b. 2,450 2,350 122,800 8,700 C. BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. Gross Pay through August 31 Gross Pay for September $2,400 a. $ 5,200 b. 2,450 2,350 122,800 8,700 C.

Answer rating: 100% (QA)

Part A Employer Payroll taxes September earnings subject to tax Tax Rate Tax Amount FICASocial Secur... View the full answer