Instruction 5-1
Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages.

-Refer to Instruction 5-1.Queno Company had FUTA taxable wages of $510,900 during the year.Determine its:
a)gross FUTA tax __________.
b)FUTA tax credits (assuming no penalties)__________.
c)net FUTA tax __________.

Question

Instruction 5-1
Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages.
​
-Refer to Instruction 5-1.Queno Company had FUTA taxable wages of $510,900 during the year.Determine its:
a)gross FUTA tax __________.
b)FUTA tax credits (assuming no penalties)__________.
c)net FUTA tax __________.

Quizplus · Accepted Answer

The Answer of Instruction 5-1
Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages.
​
-Refer to Instruction 5-1.Queno Company had FUTA taxable wages of $510,900 during the year.Determine its:
a)gross FUTA tax __________.
b)FUTA tax credits (assuming no penalties)__________.
c)net FUTA tax __________.

Instruction 5-1 Use the Net FUTA Tax Rate of 0.6% on the on the First