Asked by
taylor maciejewski
on Nov 14, 2024Verified
The tax that is paid equally by the employer and employee is the
A) federal income tax.
B) federal unemployment tax.
C) state unemployment tax.
D) FICA tax.
FICA Tax
Federal Insurance Contributions Act tax, which funds Social Security and Medicare, charged to both employers and employees.
Federal Unemployment Tax
A tax paid by employers to fund the government's unemployment benefits.
- Understand the relationship between employers and employees concerning FICA and other employment-related taxes.
Verified Answer
PB
Learning Objectives
- Understand the relationship between employers and employees concerning FICA and other employment-related taxes.