The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both taxes are applied to the first $7,000 of an employee's pay. Assume that an employee earned total wages of $2,900 in the current period and had cumulative pay for prior periods of $5,800. What is the amount of unemployment taxes the employer must pay on this employee's wages for the current period?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both taxes are applied to the first $7,000 of an employee's pay. Assume ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
If the price of papayas increases from $1.00 each to $1.25, will this cause a change in supply or quantity supplied? a. supply b. quantity supplied
Answers (2)
Jerry is very outgoing, personable, and creative. he would ideally like to start his own business. which combination of categories from holland's codes best represent jerry?
Answers (1)
Four and a half years ago, Chris invested $10,000 in a retirement fund that grew at the rate of 3.32%/year compounded quarterly. What is his account worth today? (Round your answer to the nearest cent.)
Answers (1)
The marginal product of any input is thea. increase in total cost associated with a one-unit increase in production. b. change in total output associated with a $1.00 increase in total cost. c.
Answers (1)
Which is most likely to result from a layoff of factory workers in a town?
Answers (1)
New Questions in Business
The Inventory account is used in each of the following except: the entry to record goods purchased on account. the return of goods purchased. payment of freight on goods sold. payment within the discount period.
Answers (1)
What are the advantages of having the federal reserve oversee the regulation of the banking system?
Answers (1)
The Dow Jones Industrial Average is: a A good measure of the strength of the U. S. economy b Very stable from day to day c An indicator of the long-term value of stocks d Can predict global markets
Answers (2)
An analysis of the accounts shows the following. 1. The equipment depreciates $248 per month. 2. One-third of the unearned rent was recognized as revenue during the quarter. 3. Interest of $550 is accrued on the notes payable. 4.
Answers (1)
On May 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Oceanside Realty: a. Fees accrued but unbilled at May 31 are $7,780. b. The supplies account balance on May 31 is $2,560.
Answers (1)