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Business, 07.06.2021 15:50 katherineweightman

BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $117,000 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 2.9% of the first $7,000 paid to its employee. Compute BMX€™s amounts for each of these four taxes as applied to the employee€™s gross earnings for September under each of three separate situations (a), (b), and (c). Gross pay through August Gross pay for September
a. 6400 800
b. 18,200 2100
c. 11700 8000

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BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $117,000 paid to its...

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