select the correct answer. which of the following statements is true regarding taxes? a. every employee pays…
select the correct answer. which of the following statements is true regarding taxes? a. every employee pays the same tax rate for federal taxes. b. some employees in certain states do not pay state income taxes. c. social security tax is 5.3% of income. d. employers are not required to withhold taxes from an employees paycheck.
Answer
Brief Explanations:
- A is false as federal tax rates vary based on income - brackets.
- B is true. Some states like Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington, and Wyoming do not have a state - income tax on personal income.
- C is false. Social security tax is 6.2% of income (for employees, and employers also pay 6.2% for a total of 12.4% on the employee's earnings up to a certain limit).
- D is false. Employers are generally required to withhold federal income tax, social security tax, and Medicare tax from an employee's paycheck.
Answer:
B. Some employees in certain states do not pay state income taxes.