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Sagot :
To calculate the total employer payroll taxes related to the current week, we need to consider the different types of taxes applicable:
Social Security Taxes:
Rate: 6.0%
Maximum earnings: No maximum
Employee's earnings for the week: $2,500
Year-to-date earnings before this week: $6,800
For Social Security taxes, the taxable amount for the current week is the lesser of the earnings for the week ($2,500) or the Social Security wage base limit ($142,800 for the year 2021).
Taxable amount for Social Security = $2,500
Social Security tax for the week = Taxable amount × Rate
= $2,500 × 0.06
= $150
Medicare Taxes:
Rate: 1.5%
No maximum earnings
Medicare tax for the week = Earnings for the week × Rate
= $2,500 × 0.015
= $37.50
Federal and State Unemployment Compensation Taxes:
Rate: 6.2%
Maximum taxable earnings: $7,000
The taxable earnings for state unemployment tax are limited to $7,000 per employee per year. Since the employee's year-to-date earnings before this week were $6,800, the taxable earnings for state unemployment tax in this week is:
Taxable
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