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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

Solutions

Chapter
Section
BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

What is the purpose of the FUTA tax, and who must pay it?

To determine

Provide the purpose of the state unemployment tax, and also identify person who must pay the tax.

Explanation

FUTA tax:

FUTA tax is mainly levied on the employer and it is not deducted from the employee’s earnings. The main purpose of this tax is to raise fund so to administer the combined federal /state compensation program...

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