Both employer and employee are responsible for paying a set percentage of the employee's earnings. What is the name of this payroll tax? Select one: a. Federal Insurance Contributions Act withholdings b. Family Medical Leave Act withholdings c. Employee Retirement Income Security Act withholdings d. Consolidated Omnibus Budget Reconciliation Act withholdings

Answers

Answer 1

The payroll tax that is responsible for the employer and employee paying a set percentage of the employee's earnings is known as "Federal Insurance Contributions Act withholdings". Option A is the answer.

The Federal Insurance Contributions Act (FICA) is a payroll tax levied on both workers and employers in the United States to fund Social Security and Medicare programs. The amount of FICA tax withheld from an employee's paycheck is determined by the employee's income and the current FICA tax rate.

The employer and employee each contribute half of the total FICA tax, which is a set percentage of the employee's gross earnings.The Federal Insurance Contributions Act withholdings option (a) is the correct answer to the given question.

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Related Questions

Shares of halva corp. stock offer an expected total return of 14.6 percent. what is the dividend yield if the dividend increases by 2.8 percent annually?

Answers

If shares of halva corp. stock offer an expected total return of 14.6 percent then the dividend yield if the dividend increases by 2.8 percent annually is  11.8 percent.

We can use the total return formula to solve for the dividend yield:

Total return = Dividend yield + Capital gains yield

Given the expected total return of 14.6 percent and assuming that the capital gains yield is equal to the dividend growth rate of 2.8 percent annually, we can write:

14.6% = Dividend yield + 2.8%

Solving for the dividend yield:

Dividend yield = 14.6% - 2.8%

Dividend yield = 11.8%

The total return formula is commonly used to evaluate the overall return on an investment, taking into account both the dividend yield and the capital gains yield. In this case, we are given the expected total return of 14.6 percent and the assumption that the capital gains yield is equal to the dividend growth rate of 2.8 percent annually.

To solve for the dividend yield, we subtract the capital gains yield (2.8 percent) from the total return (14.6 percent). This calculation is based on the assumption that the total return is the sum of the dividend yield and the capital gains yield.

By subtracting 2.8 percent from 14.6 percent, we find that the dividend yield is 11.8 percent. This means that the dividend payments received from Halva Corp. stock contribute 11.8 percent of the total return on the investment.

Therefore, the dividend yield for Halva Corp. stock is 11.8 percent.

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