The SUTA rate for Thomson Temp Agency is 5.4% and its FUTA rate is 6% less the 5.4% SUTA credit. If its semimonthly payroll is $139,320 and none was for payments to employees in excess of the $7,000 wage base, then what are the total FUTA and SUTA taxes (in $) for the payroll? SUTA tax $  FUTA tax $ Total tax $

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A: SUTA taxes = Gross wages x SUTA rate = $139,600 x 5.4% = $7,538.40

Q: The SUTA rate for Thomson Temp Agency is 5.4% and its FUTA rate is 6% less the 5.4% SUTA credit. If…

A: FUTA rate after credit=FUTA rate-SUTA rate=6%-5.4%=0.6%

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