There are millions of tax payers in the state of Wisconsin. There is not official data as to how many of these taxpayers do not pay taxes.
yes
MED tax is the tax that is paid to Medicare. FICA tax is the tax paid to pay for Social Security benefits.
A Fica tax has several different purposes that serve different people. A Fica tax serves to finance government educational programs and developmental projects. A Fica tax also provides those who are disabled and/or retired with insurance.
employers pay the fica tax
You do not calculate FICA tax by asking Answers.com. You calculate the FiCA tax by going to the Internal Revenue Web Site and looking at the information on their form. Then you plug your numbers into their formula.
Yes, plus Medicare tax. FICA is the acronym for the Federal Insurance Contributions Act.
tax payers
tax payers
The total Social Security tax on $20,000 is actually divided into two kinds of tax, FICA and Medicare taxes. The tax is also collected by two different payers, the employer and employee each pay half. FICA tax is 6.20% each and Medicare tax is 1.45% each. For $20,000 the total of the two taxes is $1,530 for the employer and the same amount for the employee. For a self-employed person, he/she pays both sides for a total of $3,060.
2%
what is tax used for