To find the employer's yearly contribution to the U.S. Social Security tax on a salary of [tex]$40,000, we follow these steps:
1. Identify the Contribution Rate:
- According to the table, the employer's responsibility for the Social Security tax is 6.20%.
2. Convert the Percentage to a Decimal:
- Convert 6.20% to a decimal: \( 6.20\% = \frac{6.20}{100} = 0.062 \).
3. Calculate the Contribution:
- Multiply the salary by the contribution rate in decimal form:
\[
40{,}000 \times 0.062 = 2{,}480
\]
Therefore, the employer's yearly contribution to the U.S. Social Security tax on a salary of $[/tex]40,000 is [tex]\(\$2,480\)[/tex].
