Over 17 million farmers around the world plant GM crops, and their numbers grow each season-they grew by 6% from 2011. In fact, 9 in 10 of these farmers run small farms, too.In addition to higher yields and higher farm income, their reasons include:Increased management flexibility.ver 17 million farmers around the world plant GM crops, and their numbers grow each season-they grew by 6% from 2011. In fact, 9 in 10 of these farmers run small farms, too.
The Medicare tax rate is 2.9% for the employee and the employer. You will withhold 1.45% of an employee's wages and pay a matching amount for Medicare tax. There is no wage base for the Medicare portion of the FICA tax. Both the employer and the employee continue to pay Medicare tax, no matter how much is earned. The employer also must pay State and Federal Unemployment Taxes (SUTA and FUTA). The FUTA rate is 6.2 %, but you can take a credit of up to 5.4% for SUTA taxes that you pay.
To calculate FICA withholding, Acme should proceed as follows: 1  Calculate the Social Security taxable income. 2  Acme must first calculate the amount of John's pay subject to Social Security tax. Since there is no limit on Medicare withholding, and John's pay is not subject to any pretax deductions, the amount of his pay subject to Medicare tax is also $800. 2  Calculate the Social Security tax. 3  Acme multiplies the 2015 employee Social Security tax rate of 6.2% by the taxable income amount of $800.