Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. what would the futa & suta tax be for an emplo

What would the FUTA & SUTA tax be for an employee whose year-to-date earnings prior...

70.2K

Verified Solution

Question

Accounting

What would the FUTA & SUTA tax be for an employee whose year-to-date earnings prior to the current period are $12,400, who earns $1,500 during the current period, who works in a state with a credit reduction of 0.6%, and whose state imposes a SUTA tax rate of 2.5% with an associated wage base of $12,600?

FUTA - $0; SUTA $6.20

FUTA - $0; SUTA $5

FUTA - $18; SUTA $5

FUTA - $9; SUTA $37.50

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Calculus
1.2K views

Let A x represent the area bounded by the graph the horizontal axis and the...

Basic Math
1.2K views

Explain and state the formula of (a) Trapezoidal rule, (b) the Midpoint Rule, and (c) Simpson’s...

Biology
1.2K views

Which stage of cellular respiration produces the most ATP? Explain. Explain why skeletal muscle is voluntary and cardiac...

Psychology
1.2K views

Comment on the relationship and differences between human rights, legal rights, moral rights and ethical duties....

Geometry
1.2K views

7 Find the EXACT value of the indicated angles and or sides Evaluate trig functions...

Basic Math
1.2K views

A window is in the shape of a square with a semicircle on top. If...

Calculus
1.2K views

Determine the point on the graph of the unit circle that corresponds to 2x Then...

Accounting
1.2K views

2. For each of the following, indicate the liability, if any, which would be shown...

Accounting
1.2K views

Metlock Co. receives $380,000 when it issues a $380,000,15%, mortgage note payable to finance the...

Accounting
1.2K views

What is the first step you should take in applying the Conceptual Framework for Independence?...

Accounting
1.2K views

the cash account of blue horizon ltd showed a balance of $25,000 on march march...

Accounting
1.2K views

Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $35,000...