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27 August, 21:21

hat would the FUTA and SUTA tax be for an employee whose year-to-date earnings prior to the current period are $12,400, who earns $1,500 during the current period, who works in a state with a credit reduction of 0.6%, and whose state imposes a SUTA tax rate of 2.5% with an associated wage base of $12,600?

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  1. 27 August, 21:49
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    FUTA = $9 and SUTA = $37.5

    Explanation:

    given data

    earnings prior = $12,400

    earns = $1,500

    credit reduction = 0.6%

    tax rate = 2.5%

    solution

    so we know that up to $7000 the employer has to pay FUTA

    and here salaries and wages earned = $1500

    so FUTA will be paid = 0.6% of $1500

    FUTA = $9

    so

    SUTA will be = 2.5% of $1500

    SUTA = $37.5

    so

    FUTA = $9 and SUTA = $37.5
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