Asked by
Kaylin Lindsey
on Nov 15, 2024
Verified
Payroll taxes include all of the following except:
A) federal income tax.
B) state income tax.
C) FICA-OASDI.
D) All of the above are payroll taxes.
FICA-OASDI
The portion of the Federal Insurance Contributions Act tax that funds the Social Security program, covering retirement, disability, and survivors' benefits.
Payroll Taxes
Taxes imposed on employers and employees, based on the wages the employer pays to the employees.
- Understand the implications of federal and state income tax withholdings on net pay.
Verified Answer
SK
Learning Objectives
- Understand the implications of federal and state income tax withholdings on net pay.