The following totals for the month of October were taken from the payroll register of the Tobias Company:
Salaries [all subject to social security and medicare taxes] $14,000
Salaries [included above] subject to unemployment taxes 11,000
Federal income taxes withheld 3,500
State income taxes withheld 1,100
Medicare tax rate 1.45%
Social security tax rate 6.20%
Federal unemployment tax rate. 60%
State unemployment tax rate 5.40%
What is the gross and net pay?
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Home » Business » The following totals for the month of October were taken from the payroll register of the Tobias Company: Salaries [all subject to social security and medicare taxes] $14,000 Salaries [included above] subject to unemployment taxes 11,000 Federal