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During 2019, Shoupe Company was subject to the New Jersey state unemployment tax of 5.1%. The company’s taxable wages for FUTA were $93,400 and for SUTA, $194,300. Compute: a. SUTA tax that Shoupe Company would pay to the state of New Jersey.......... $ ________ b. Net FUTA tax for 2019.................................................................................... $ ________ c. Amount of employees’ unemployment tax for 2019 (use the employee’s tax rate shown in Figure 5.1 on page 5-14)............................................................ $ ________

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PAYROLL ACCT., 2019 ED.(LL)-TEXT

19th Edition
BIEG
Publisher: CENGAGE L
ISBN: 9781337619783
Chapter 5, Problem 11PB
Textbook Problem
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During 2019, Shoupe Company was subject to the New Jersey state unemployment tax of 5.1%. The company’s taxable wages for FUTA were $93,400 and for SUTA, $194,300. Compute:

  1. a. SUTA tax that Shoupe Company would pay to the state of New Jersey.......... $ ________
  2. b. Net FUTA tax for 2019.................................................................................... $ ________
  3. c. Amount of employees’ unemployment tax for 2019 (use the employee’s tax rate shown in Figure 5.1 on page 5-14)............................................................ $ ________

a.

To determine

Calculate SUTA tax that Company S would pay to the State NJ.

Explanation of Solution

State unemployment compensation tax (SUTA): This is the compensation provided to the unemployed people by the state government from the taxes collected from the employers, as a percentage of 5.4% of employees’ payrolls.

Calculate SUTA tax that Company S would pay to the State NJ.

 SUTA tax = Taxable SUTA wages 

b.

To determine

Calculate net FUTA tax for 2019.

c.

To determine

Calculate employees’ employment tax for 2019.

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Chapter 5 Solutions

PAYROLL ACCT.,2019 ED.(LL)-TEXT
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