An employer in Cleveland, Ohio, employs two individuals, whose taxable earnings to date (prior to the current pay period) are $5,000 and $12,000. During the current pay period, these employees earn $1,800 and $2,000, respectively. 1: FUTA tax = $
An employer in Cleveland, Ohio, employs two individuals, whose taxable earnings to date (prior to the current pay period) are $5,000 and $12,000. During the current pay period, these employees earn $1,800 and $2,000, respectively. 1: FUTA tax = $
Chapter4: Income Tax Withholding
Section: Chapter Questions
Problem 3SSQ
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Transcribed Image Text:PSb 5-3 Calculate FUTA Tax
For each of the following independent circumstances, calculate the FUTA tax owed by the employer:
NO TE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
1: An employer in Cleveland, Ohio, employs two individuals, whose taxable earnings to date (prior to the current pay period) are $5,000 and $12,000. During the current pay
period, these employees earn $1,800 and $2,000, respectively.
FUTA tax = $
2: An employer in Nesconset, New York, employs three individuals, whose taxable earnings to date (prior to the current pay period) are $6,900, $1,000, and $24,200. During
the current pay period, these employees earn $2,400, $1,750, and $3,000, respectively.
FUTA tax = $
3:
An employer in The U.S. Virgin Islands, employs two individuals, whose taxable earnings to date (prior to the current pay period) are $8,500, and $3,400 During the
current pay period, these employees earn $880 and $675, respectively.
FUTA tax = $
Transcribed Image Text:4: An employer in Cary, North Carolina, employs three individuals, whose taxable earnings to date (prior to the current pay period) are $5,900, $8,900, and $6,600. During
the current pay period, these employees earn $940, $1,020, and $850, respectively.
FUTA tax = $
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT