Payroll tax (also known as FICA) is _____ Federal and State income tax.

Question

BlackTom AI · Accepted Answer

The question asks about how payroll tax (FICA) relates to Federal and State income tax. 
Option A: 'a part of' — This would imply FICA is embedded within or absorbed as a subset of income tax, which is inaccurate because FICA is a separate payroll tax dedicated to Social Security and Medicare, not a component of income tax.
Option B: 'more than' — This would suggest FICA exceeds federal and state income tax in some sense, which is not a standard comparative claim; payroll taxes and income taxes are different categories with separate rates and purposes, so this is misleading.
Option C: 'deducted from' — This would mean FICA is subtracted from income taxes or from wages in the sense of being taken out as a deduction, but the phrasing here would imply a misrepresentation of how payroll taxes relate to tax withholding, since FICA itself is a tax withheld from gross wages, not something deducted from income tax.
Option D: 'in addition to' — This correctly portrays the relationship: FICA payroll taxes are separate from Federal and State income taxes and are paid in addition to income taxes; they are additional withholdings that fund Social Security and Medicare, independent of income tax.

FIN 205 B Module 5 Quiz Taxes

Payroll tax (also known as FICA) is _____ Federal and State income tax.

查看解析

登录即可查看完整答案

类似问题

Some countries, such as Greece and Malaysia, require that companies: 题目解析

In a consumer society, many adults channel creativity into buying things

Economic stress and unpredictable times have resulted in a booming industry for self-help products

People born without creativity never can develop it

A product has a selling price of $20, a contribution margin ratio of 40% and fixed cost of $120,000. To make a profit of $30,000. The number of units that must be sold is: Type the number without $ and a comma. Eg: 20000

Which of the following statement regarding cost is correct:

Under the assumptions used in cost-volume-profit analysis, as the activity increases:

The CVP and break-even analysis are supported by a range of important assumptions. Which of the following is not an assumption of the CVP:

更多留学生实用工具

考试浏览器助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单