BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the Social Security tax rate removed through payroll tax?
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6.15%
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6.20%
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6.45%
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6.50%
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Explanation:
Detailed explanation-1: -The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total. The current rate for Medicare is 1.45% for the employer and 1.45% for the employee, or 2.9% total.
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