What is the company’s total tax liability for this pay period?

A company has a gross payroll of $120,589.36. Federal taxes withheld are $24,117.87; combined social security and Medicare taxes withheld are $6,502.50.

What is the company’s total tax liability for this pay period?
A . $37,122.87
B. $30.620.37
C. $42,568.04
D. $61,240.74

View Answer

Answer: A