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An employee is paid a salary of $11,725 per month. If the current FICA rate is 6.2% on the first $115,000 of earnings, how much should be withheld for FICA tax during the month of April? $170.01 $726.95
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An employee is paid a salary of $11,725 per month.

If the current FICA rate is 6.2% on the first $115,000 of earnings, how much should be withheld for FICA tax during the month of April?


$170.01

$726.95

$896.96

$145.39

User SteveD
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7.2k points

1 Answer

2 votes
The employee should pay $726.95 for tax. Since his income this month, $11,725, is within $115,000 stipulated by FICA, the 6.2% tax rate applies to all of his income. Therefore, he should pay 11725*6.2%=726.95 dollars.
User Buzzet
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