Determine the total annual FICA tax for an annual salary of $38,480. (FICA is 7.65%)

Question

a.
$294.37
b.
$717.96
c.
$2,385.76
d.
$2,943.72

Answer 1

To determine the total annual FICA tax, we need to calculate 7.65% of the annual salary of $38,480.

FICA tax = 0.0765 x $38,480 = $2,943.72

Therefore, option d. $2,943.72 is the correct answer.