Chapter 9.III, Problem 7RE

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8th Edition

Robert Brechner + 1 other

ISBN: 9781305585447

Textbook Problem

Barry Michaels earns $36,500 per year as the housewares manager at the Home Design Center.

**a.** If the SUTA tax rate is 5.4% of the first $7,000 earned each year, how much SUTA tax must the company pay each year for Barry?

SUTA annually

**b.** If the FUTA tax rate is 6.0% of the first $7,000 earned in a year minus the SUTA tax paid, how much FUTA tax must the company pay each year for Barry?

FUTA tax the company must pay annually

**(a)**

To determine

**To calculate:** The SUTA tax rate that company need to pay for Barry Michel who earns

Explanation

**Given Information:**

Barry michel annual earning is

**Formula used:**

SUTA tax company will pay for barry annually can be calculated by the use of the formula

**Calculation:**

Consider, the earning of Barry Michel which is

Now, SUTA tax rate is

**(b)**

To determine

**To calculate:** The FUTA tax rate that company need to pay for barry michel who earns of

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