Hi all. I am putting together a financial model that spans over 5
years by month. I am tyring to create a FICA formula that will
calculate FICA tax by month based on salary paid to an individual.

Beginning with A2 I have the dates by month (1/1/09, 2/1/09,
3/1/09...)
Beginning with B2 I have the monthly incvome of an employee

Does anyone have a formula that will calc the tax based on 6.2% with a
cap of $108,000 (the actual TAX cap is 6.2% x 108,000) that I can copy
across all years, keeping in mind the cumulative tax paid starts over
beginning with the new calendar year whether or not the the max has
been reached?

Thanks!!