Question

WILL GIVE BRAINLIEST ANSWER!

If your FICA tax rate is 7.65% and your Social Security rate is 6.2%, then what is the
Medicare tax rate?

Answer 1

Answer:

1.45%

Explanation:

FICA tax is composed of Social security tax and medicare tax.

Therefore, FICA  = social security + medicare

FICA = 7.65%, and social security = 6.2%

7.65% = 6.2% + medicare

Medicare = 7.65% - 6.2%

Medicare = 1.45%