Instruction 5-1 Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. Refer to Instruction 5-1. Niemann Company has a SUTA tax rate of 7.1%. The taxable payroll for the year for FUTA and SUTA is $82,600. a) The amount of FUTA tax for the year is __________. b) The amount of SUTA tax for the year is __________. View keyboard shortcuts
Instruction 5-1 Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. Refer to Instruction 5-1. Niemann Company has a SUTA tax rate of 7.1%. The taxable payroll for the year for FUTA and SUTA is $82,600. a) The amount of FUTA tax for the year is __________. b) The amount of SUTA tax for the year is __________. View keyboard shortcuts
Chapter5: Corporations: Earnings & Profits And Dividend Distributions
Section: Chapter Questions
Problem 29P
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Instruction 5-1
Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages.
Refer to Instruction 5-1. Niemann Company has a SUTA tax rate of 7.1%. The taxable payroll for the year for FUTA and SUTA is $82,600.
a) | The amount of FUTA tax for the year is __________. |
b) | The amount of SUTA tax for the year is __________. |
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