What is the standard employee FICA tax rate for OASDI and Medicare combined, excluding the Additional Medicare Tax?

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Multiple Choice

What is the standard employee FICA tax rate for OASDI and Medicare combined, excluding the Additional Medicare Tax?

Explanation:
FICA for employees combines two taxes: OASDI (Social Security) at 6.2% on wages up to the Social Security wage base, and Medicare at 1.45% on all wages. Together that totals 7.65%. The Additional Medicare Tax of 0.9% is a separate levy that applies only to higher earners and isn’t part of the standard rate. So the standard combined rate for OASDI and Medicare is 7.65%.

FICA for employees combines two taxes: OASDI (Social Security) at 6.2% on wages up to the Social Security wage base, and Medicare at 1.45% on all wages. Together that totals 7.65%. The Additional Medicare Tax of 0.9% is a separate levy that applies only to higher earners and isn’t part of the standard rate. So the standard combined rate for OASDI and Medicare is 7.65%.

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