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  1. business
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  3. compute the futa and suta taxes for both the emplo

Compute the FUTA and SUTA taxes for both the employer and employee in the scenario...

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Accounting

image Compute the FUTA and SUTA taxes for both the employer and employee in the scenario below. Vermont Swimmers has a swimming camp in Woodstock, Vermont. FUTA wages are $13,035.42. Taxable SUTA wages are $15,932.18 on the first $ X and experience rating is 6.5%. Michael Phelps has worked for Vermont Swimmers for over 5 years and earns $724.19 per week. Note: Assume Vermont Swimmers remitted their SUTA on time. For Vermont Swimmers, compute both their total unemployment tax and, if applicable, the amount that would be withheld from Michael Phelps's weekly paycheck. Note: Round all amounts to the nearest cent. If the answer is zero, enter "0". And use the Practice State SUTA Chart to complete the scenario. Here's A Key Assume instead that Michael Phelps lives in Hawaii and has wages of $1,200 per week. The amount of SUTA withheld from his check would be $ X

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