Asked by Maryam Jaber on Apr 27, 2024
Verified
Which of the following taxes would be deducted in determining an employee's net pay?
A) FUTA taxes
B) SUTA taxes
C) FICA taxes
D) All of these choices
FICA Taxes
Taxes imposed on both employees and employers to fund Social Security and Medicare, based on a percentage of the employees' wages.
SUTA Taxes
State Unemployment Tax Act taxes that employers pay to provide unemployment benefits to workers who lose their jobs.
FUTA Taxes
Federal unemployment taxes employers must pay, contributing to the US government's fund to support those unemployed.
- Identify the types of taxes and deductions involved in calculating net pay.
Verified Answer
BT
Briamber TerrellApr 28, 2024
Final Answer :
C
Explanation :
Only FICA taxes would be deducted in determining an employee's net pay. FUTA and SUTA taxes are employer-paid taxes and do not affect the employee's net pay.
Learning Objectives
- Identify the types of taxes and deductions involved in calculating net pay.