Question: Required information Problem 6.4A & 6-5A (Algo) [The following information applies to the questions displayed below) Joseph Farmer earned $123,000 in 2019 for a company
Required information Problem 6.4A & 6-5A (Algo) [The following information applies to the questions displayed below) Joseph Farmer earned $123,000 in 2019 for a company in Kentucky. He is single with one withholding allowance and is paid annually. The FUTA rate in Kentucky for 2019 is 06 percent on the first $7,000 of employee wages, and the SUTA rate is 54 percent with a wage base of $10,500. Use the percentage method withholding tables in Appendix and the state information in Appenx.D. Use Eigue 54. Problem 6-4A (Algo) Required: Compute the following employee share of the taxes. (Round your answers to 2 decimal places.) Federal income tax withholding Social Security tax Medicare tax State income tax withholding
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