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.Stys Company's payroll for the year is $1,210,930.Of this amount,$510,710 is for wages paid in excess of $7,000 to each individual employee.The SUTA tax rate for the company is 3.2% on the first $7,000 of each employee's earnings.
a)The amount of FUTA tax for the year is __________.
b)The amount of SUTA tax for the year is __________.

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.Stys Company's payroll for the year is $1,210,930.Of this amount,$510,710 is for wages paid in excess of $7,000 to each individual employee.The SUTA tax rate for the company is 3.2% on the first $7,000 of each employee's earnings.
a)The amount of FUTA tax for the year is __________.
b)The amount of SUTA tax for the year is __________.

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.Stys Company's payroll for the year is $1,210,930.Of this amount,$510,710 is for wages paid in excess of $7,000 to each individual employee.The SUTA tax rate for the company is 3.2% on the first $7,000 of each employee's earnings.
a)The amount of FUTA tax for the year is __________.
b)The amount of SUTA tax for the year is __________.

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