3. An employer in San Diego, California, employs two individuals, whose taxable earnings to date (prior to the current pay period) are $1,420 and $6,600. During the current pay period, these employees earn $3,350 and $1,700, respectively. The applicable SUTA tax rate is 3%, and the California SUTA threshold is $7,000.
FUTA tax = $
SUTA tax = $
4. An employer in Durham, North Carolina, employs three individuals, whose taxable earnings to date (prior to the current pay period) are $6,000, $20,100, and $34,500. During the current pay period, these employees earn $980, $1,600, and $1,150, respectively. The applicable SUTA tax rate is 1.2%, and the North Carolina SUTA threshold is $23,100.
FUTA tax = $
SUTA tax = $
3) FUTA tax: tax rate 6% with threshold limit $7000. | |||||
Employee | 1 | 2 | Total | ||
Privious pay | 1420 | 6600 | |||
Current pay | 3350 | 1700 | |||
Applicable | 3350 | 400 | |||
FUTA tax | 201 | 24 | 225 | ||
SUTA tax: tax rate 3% with threshold limit $7000. | |||||
Employee | 1 | 2 | Total | ||
Privious pay | 1420 | 6600 | |||
Current pay | 3350 | 1700 | |||
Applicable | 3350 | 400 | |||
SUTA tax | 100.5 | 12 | 112.5 | ||
4) FUTA tax: tax rate 6% with threshold limit $7000. | |||||
Employee | 1 | 2 | 3 | Total | |
Privious pay | 6000 | 20100 | 34500 | ||
Current pay | 980 | 1600 | 1150 | ||
Applicable | 1000 | 0 | 0 | ||
FUTA tax | 60 | 0 | 0 | 60 | |
SUTA tax: tax rate 1.2% with threshold limit $23100. | |||||
Employee | 1 | 2 | Total | ||
Privious pay | 6000 | 20100 | 34500 | ||
Current pay | 980 | 1600 | 1150 | ||
Applicable | 980 | 1600 | 0 | ||
SUTA tax | 11.76 | 19.2 | 0 | 30.96 | |
3. An employer in San Diego, California, employs two individuals, whose taxable earnings to date (prior...
For each of the following independent circumstances calculate both the FUTA and SUTA tax owed by the employer for each employee for the current pay period: 1: An employer in Delaware City, Delaware, employs two individuals, whose taxable earnings to date (prior to the current pay period) are $6,100 and $8,800. During the current pay period, these employees earn $1,450 and $2,000, respectively. The applicable SUTA tax rate is 2.1%, and the Delaware SUTA threshold is $18,500. Employee 1: Employee...
i fugured out SUTA but need help finding the FUTA tax for each question. my book uses 2017 tax rates. please help show steps. 1: An employer in Delaware City, Delaware, employs two individuals, whose taxable earnings to date (prior to the current pay period) are $6.100 and $8.800. During the current pay period, these employees earn $1,380 and $2.360. respectively. The applicable SUTA tax rate is 2.1%, and the Delaware SUTA threshold is $16.500 FUTA tax = $ SUTA...
A business employs three individuals, whose taxable earnings to date (prior to the current pay period) are $5,200, $46,700 and $500. During the current pay period, these employees earn $2,100, $1,140 and $920, respectively. Taxable earnings subject to FUTA tax = $
Calculate employer's total FUTA and SUTA tax. As TCLH Industries operates in North Carolina, assume a SUTA tax rate of 1.2% and a taxable earnings threshold of $23,500. Current period taxable earnings for FUTA and SUTA taxes are the same as those for FICA taxes. Year-to-date taxable earnings for FUTA and SUTA taxes, prior to the current pay period, are as follows: Zachary Fox: $0 Calvin Bell: $20,478.57 David Alexander: $198,450 Michael Sierra: $117,600 NOTE: For simplicity, all calculations throughout...
A company's employees had the following earnings records on June 30, the current payroll period: Employees Earnings Earnings this FICA FICA Income Med Net Pay FUTAI FUTA SUTA through Prior Pay Period SS Med Taxes Ins SUTA Pay Period W/H W/H W/H W/H Taxable Earnings D. Adams $11,300 $3,900 $900 J. Hess 6,100 2,500 500 R. Lui 9,500 3,100 600 T. Morales 4,800 1,400 300 L. Vang 10,000 3,000 600 Totals The company's payroll taxes expense on each employee's earnings...
Data Table Earnings Withholdings Salaries Beginning Current Ending and Cumulative Earnings Total Withholdings Net Pay Check No. Wages Expense OASDI Medicare 801 802 Cumulative Period Earnings Earnings 83,000 $ 4,600 113,000 7,200 40,000 2,400 63,000 3,500 6,000 $ 299,000 $ 23,700 Income Health United Tax Insurance Way $ 460 $ 92 $ 35 2,160 1 44 25 240 48 0 1,050 70 1,800 120 $ 5,710 $ 474 $ 80 803 804 805 0 Print Done More Info For all...
Caterpillar Inc. 2017 2016 5 S 51,822 2,900 54,722 42,676 2,786 45,462 35,773 2,764 38,537 STATEMENT 1 Consolidated Results of Operations for the Years Ended December 31 Dollar is willions cat pershare dal Sales and revenues Sales of Machinery, Energy & Transportation Revenues of Financial Products Total sales and revenues Operating costs Cost of goods sold Selling, general and administrative expenses Research and development expenses Interest expense of Financial Products Goodwill impairment charge Other operating incomel expenses Total operating costs...