The following taxes are related to Co. X's payroll for the current period:
Federal income tax withheld: $15,000
State income tax withheld: $4,000
FICA tax withheld: $7,000
Federal unemployment tax: $500
State unemployment tax: $1,500

What is the amount of the employer's (Co. X's) payroll tax expense?

Answer rating: 100% (QA)

The employer s payroll tax expense includes the following taxes FICA Federal Insurance Contributions View the full answer