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steve lopez
Lv 5
Business Math Help !?
you report a taxable income of $140000 in 2010. the medicare tax rate for that year is 1.45% with no salary cap. how much do you pay for medicare tax?
1 Answer
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- ?Lv 68 years agoFavorite Answer
since there is no salary cap, we tax everything
$140,000 * 1.45% = $2,030
the Medicare tax is $2,030
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