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10 May, 13:20

Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. Niemann Company has a SUTA tax rate of 7.1%. The taxable payroll for the year for FUTA and SUTA is $82,600. Round your answers to two decimal places a. The amount of FUTA tax for the year is $. b. The amount of SUTA tax for the year is $

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  1. 10 May, 14:53
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    Answer: A. $42.00, B. $5864.60

    Explanation:

    The amount of FUTA tax for the year is given as,

    0.6% of $7000 = $42.00

    2. The amount of SUTA tax for the year at 7.1% is

    7.1% of $82600 = $5864.60
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