Howard Murphy is the ower of Stormy Banana Films in West Hollywood, California. Stormy Banana Films had 15 employees with total annual wages of $230,750 (no one exceesed the Medicare tax surcharge or Social Security cap.). The FUTA rate for California in 2019 is 2.2 percent because it is a credit reduction state. Stormy Banana Films has a SUTA rate of 3.2 percent for 2019 with wage base of $7,000. Require: Compute the following employer taxes. (Round your answer to 2 decimal places.) Soical security tax Medicare tax FUTA SUTA

Individual Income Taxes
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ISBN:9780357109731
Author:Hoffman
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Chapter18: Accounting Periods And Methods
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Problem 47P: How do the all events and economic performance requirements apply to the following transactions by...
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Howard Murphy is the ower of Stormy Banana Films in West Hollywood, California. Stormy Banana Films had 15 employees with total annual wages of $230,750 (no one exceesed the Medicare tax surcharge or Social Security cap.). The FUTA rate for California in 2019 is 2.2 percent because it is a credit reduction state. Stormy Banana Films has a SUTA rate of 3.2 percent for 2019 with wage base of $7,000.

Require: Compute the following employer taxes. (Round your answer to 2 decimal places.)

Soical security tax

Medicare tax

FUTA

SUTA

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