The Social Security Administration increased the taxable wage base from $137,700 to $142,800. The 6.2% tax rate is unchanged. Joe Burns earned over $131,700 each of the past two years. What is the percent increase in the base?

The Social Security Administration increased the taxable wage base from $137,700 to $142,800. The 6.2% tax rate is unchanged. Joe Burns earned over $131,700 each of the past two years. What is the percent increase in the base?

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter5: Unemployment Compensation Taxes

Section: Chapter Questions

Problem 5PA

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