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Question

. S re http ://hilal ri thahab nnu e fr assi nent q stionspli q jGrinyGGKS4rgmlionzanesederim no 2 a A business amploys troe individuals, whose taxable eamings to date (prior to the current pay period) are $5,700. $8000, and $1,000 During the currem pay period, these employees eam $1,700, $3.320, and $2.700, respectivaly. Taxable earnings subject to FUTA tax A business employs two individusis, whose taxable earmings to date (prior to the current pay peniod) are $2.400, and $7.200 During the curmant pay period these employees esm $1,250 and $750. respectively Taxable earnings sdect to FUTA tar A business employs three incividuals whase taxable earrings to dane ipriar to the current pay perod) are $26,700 $4 400 and $6.850. During the curront pay period, thase employees earn $2.570. 52,560, and $3.320 respectivaly Tauable earrings su ect to FUTA tax PEVIOUS NEXT SUBMITASSIGNMENT

Explanation / Answer

Answer 1. For 2017, the FUTA tax rate is 6.0%. The tax applies to the first $7,000 you pay to each employee as wages during the year. Individual 1 Individual 2 Individual 3 Taxaxable Earnings to date (Prior to current pay period)                 5,700                8,000                1,000 Current Pay                 1,700                3,320                2,700 Total Earnings                 7,400              11,320                3,700 Taxable Earnings subject to FUTA Tax                 1,300                       -                  2,700 Answer 2. Individual 1 Individual 2 Taxaxable Earnings to date (Prior to current pay period)                 2,400                7,200 Current Pay                 1,250                    750 Total Earnings                 3,650                7,950 Taxable Earnings subject to FUTA Tax                 1,250                       -   Answer 3. Individual 1 Individual 2 Individual 3 Taxaxable Earnings to date (Prior to current pay period)               26,700                4,400                6,850 Current Pay                 2,570                2,560                3,320 Total Earnings               29,270                6,960             10,170 Taxable Earnings subject to FUTA Tax                        -                  2,560                   150 Answer 5-3. 1 Individual 1 Individual 2 Taxaxable Earnings to date (Prior to current pay period)                 8,100                6,200 Current Pay                     750                1,620 Total Earnings                 8,850                7,820 Taxable Earnings subject to FUTA Tax                        -                      800 FUTA Tax - 6%                      48 For 2017, the FUTA tax rate is 6.0%. The tax applies to the first $7,000 you pay to each employee as wages during the year.

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