what is the employers yearly contribution to the u.s. medicare tax on a salary of $37,500?\nfica…

what is the employers yearly contribution to the u.s. medicare tax on a salary of $37,500?\nfica taxes\nsocial security medicare\ntotal due: 12.40% 2.90%\nemployers responsibility 6.20% 1.45%\nemployees responsibility 6.20% 1.45%

what is the employers yearly contribution to the u.s. medicare tax on a salary of $37,500?\nfica taxes\nsocial security medicare\ntotal due: 12.40% 2.90%\nemployers responsibility 6.20% 1.45%\nemployees responsibility 6.20% 1.45%

Answer

Explanation:

Step1: Identify the tax - rate

The employer's Medicare tax rate is 1.45%.

Step2: Calculate the contribution

Multiply the salary by the tax - rate. The formula is $37500\times1.45%=37500\times0.0145$. $37500\times0.0145 = 543.75$

Answer:

$543.75$