Blossom Co. has a taxable payroll of $1150000. The company is subject to FUTA tax...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Blossom Co. has a taxable payroll of $1150000. The company is subject to FUTA tax of 6.2% that includes a state contribution rate of 5.4%. However, because of its low employee turnover, it has been granted a reduction in the state rate to 2%. The total amount of federal and state unemployment tax for Blossom Co. pay is
Select an answer from the options below
$34500
$71300
$133400
$32200
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
