An employee earns $75,000 annually. What is the employer's total FICA tax obligation for this employee in 2024?
Correct Answer
C) $5,737.50
Employer FICA = Social Security (6.2%) + Medicare (1.45%). Total = $75,000 × 7.65% = $5,737.50. The employer matches the employee's FICA contribution.
Why This Is the Correct Answer
Employer FICA = Social Security (6.2%) + Medicare (1.45%). Total = $75,000 × 7.65% = $5,737.50. The employer matches the employee's FICA contribution.
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