during 2022, scott howell received a salary of $155,000. the social security base amount for 2022 was $147,000. how much payroll tax should have been withheld from scott's salary for 2022?

Respuesta :

The payroll tax that will be withheld from Scott's salary for 2022 is $11,361.5

The taxes that both employees and employers pay on salaries, wages, and tips are referred to as payroll taxes. Employers deduct taxes from employee paychecks and send the money to the government. Along with the employee's part of Social Security and Medicare taxes, these levies also include federal, state, and local income taxes (FICA). Employers are responsible for paying both federal and state unemployment taxes, as well as their portion of FICA.

Social security tax withheld = $147,000 * 6.2% =  $9,114

Medicare tax withheld = $155000 * 1.45% = $2247.5

Payroll tax withheld = Social Security tax withheld + Medicare tax withheld = 9,114 + 2247.5 = $11,361.5

Therefore, the Payroll tax withheld will be $11,361.5

To know more about Payroll tax, refer to this link:

https://brainly.com/question/9497135

#SPJ4

RELAXING NOICE
Relax