Question

If a 6.2% Social Security tax is applied to a maximum wage of $106,800, the maximum amount of Social Security tax that could ever be charged in a single year is: a. $213.60 b. $6,408.00 c. $6,621.60 d. $17,225.81

Answer 1

Answer:

Correct Answer:

C: $6,621.60

(EDGE 2021)

Step-by-step explanation:

Answer 2

The maximum amount of Social Security tax that could ever be charged in a single year exists $6,621.60.

What is Social Security tax?

Social Security exists financed through a reliable payroll tax.

Knowing that a 6.2% Social Security tax exists applied to a maximum wage of $106,800, the maximum amount of Social Security tax that could ever be charged in a single year stands at $6,621.60. Social Security offers all but unemployment insurance.

Therefore, the correct answer is option c. $6,621.60

To learn more about Social Security tax

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