For each of the following independent circumstances calculate both the FUTA and

Question

For each of the following independent circumstances calculate both the FUTA and SUTA tax owed by the employer:

NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.

Please show work.

1: An employer in Delaware City, Delaware, employs two individuals, whose taxable earnings to date (prior to the current pay period) are $6,100 and $8,800. During the current pay period, these employees earn $1,450 and $2,000, respectively. The applicable SUTA tax rate is 2.1%, and the Delaware SUTA threshold is $18,500.

FUTA tax = $
SUTA tax = $

2:An employer in Bridgeport, Connecticut, employs three individuals, whose taxable earnings to date (prior to the current pay period) are $5,500, $12,900, and $14,200. During the current pay period, these employees earn $2,200, $1,950, and $2,400, respectively. The applicable SUTA tax rate is 4.9%, and the Connecticut SUTA threshold is $15,000.

FUTA tax = $
SUTA tax = $

3: An employer in San Diego, California, employs two individuals, whose taxable earnings to date (prior to the current pay period) are $1,420 and $6,600. During the current pay period, these employees earn $3,350 and $1,700, respectively. The applicable SUTA tax rate is 3%, and the California SUTA threshold is $7,000.

FUTA tax = $
SUTA tax = $

4: An employer in Durham, North Carolina, employs three individuals, whose taxable earnings to date (prior to the current pay period) are $6,000, $20,100, and $34,500. During the current pay period, these employees earn $980, $1,600, and $1,150, respectively. The applicable SUTA tax rate is 1.2%, and the North Carolina SUTA threshold is $22,300.

FUTA tax = $
SUTA tax = $

Explanation / Answer

ans 1 SUTA Tax (1450+2000)*2.1% 72.45 FUTA Tax (1450+2000)*6% 20.70 ans 2 SUTA tax (2200+1050+(15000-14200))*4.9% 198.45 FUTA tax (2200+1050+(15000-14200))*.6% 24.3 ans 3 SUTA Tax (3350+(7000-6600))*3% 112.5 FUTA Tax (3350+(7000-6600))*.6% 22.5 ans 4 SUTA tax (980+1600)*1.2% 30.96 FUTA tax (980+1600)*.6% 15.48

Related Questions

Navigate

• Browse (All)
• Browse F
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.