An employee pays what percentage for FICA?

Question

asked Aug 25, 2018 7.0k views

2 Answers

Marquinio · Answer 1 · 2018-09-01T04:29:20+0000

Answer:

7.65%.

Explanation:

We are supposed to tell me percentage for FICA that an employee pays.

We know that Federal Insurance Contributions Act is comprised of the social security tax and medicare tax.

The social security tax is 6.2% and social security tax is 1.45%.

$FICA=\text{Social security tax}+\text{Medicare tax}$

$FICA=6.2\%+1.45\%$

$FICA=7.65\%$

Therefore, an employee pays 7.65% percentage for FICA.