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chae book 2 > Chapter 12 - Federal Social Security, Unemployment Insurance and Worker's Compensation > Flashcards

Chapter 12 - Federal Social Security, Unemployment Insurance and Worker's Compensation Flashcards

1
Q

what is FICA?

A

Federal Insurance Contribution Act

social security portion 6.2%, medicare portion 1.45% = total 7.65%

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2
Q

what is FUTA?

A

federal unemployment tax act

taxed on first $7000

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chae book 2 (24 decks)

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