Business, 26.06.2020 20:01 zanedog2018

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 Payfor September A. $5,900
B. 3,400
C.123,500
a. $1,400
b. 3,500
c. 9,400
Taxes to be Withheld From Gross Pay (Employee-Paid Taxes)
September Earnings Subject to Tax Tax Rate Tax Amount
Federal income tax $80.00
FICA—Medicare
FICA—Social Security

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