All employers in the U. S. Pay "payroll taxes" on behalf of employees. The Medicare portion of this is 1.45% of pay. If an employee makes $480 in a week, how much does the employer contribute for Medicare?

Question

Darryl Yates

Business

3 October, 04:55

All employers in the U. S. Pay "payroll taxes" on behalf of employees. The Medicare portion of this is 1.45% of pay. If an employee makes $480 in a week, how much does the employer contribute for Medicare?

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Answers (1)

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Alanna Mathews · Answer 1

Answer: $6.96

Explanation:

Weekly earning = $480

Medicare tax rate = 1.45%

1.45% = (1.45/100) = 0.0145

Medicare contribution = Medicare tax rate * weekly earning

Medicare contribution = 0.0145 * $480 Medicare contribution = $6.96

The employees weekly contribution that is apportioned for Medicare is $6.96