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University of South Alabama
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Payroll Accounting
 
Frequently Asked Questions
 

1.

What are FICA Taxes?
FICA stands for Federal Insurance Contributions Act. FICA taxes consist of two separate taxes. Social Security (6.2%) and Medicare (1.45%). These taxes are paid on wages earned for services performed. Employers withhold and pay their employees’ share of the FICA taxes and also pay the employer share.
 

University of South Alabama - Mobile Alabama 36688-0002 / 1 (251) 460-6471
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Last date changed: October 27, 2010 11:57 AM
http://www.southalabama.edu/ficarefund/faq.html

University of South Alabama