a. Net FUTA tax b. SUTA tax
In September Manson Paint Corporation began operations in a state that requires new employers of one or more individuals to pay a state
An analysis of the company's payroll for the year shows total wages paid of $170,010. The salaries of the president and the vice president of the company were $19,100 and $15,600, respectively, for the four-month period, but there were no other employees who received wages in excess of $7,000 for the four months. Included in the total wages were $880 paid to a director who only attended director meetings during the year, $6,410 paid to the factory superintendent, and $1,820 in employee contributions to a cafeteria plan made on a pretax basis-for both federal and state.
In addition to the total wages of $170,010, a payment of $2,280 was made to Andersen Accounting Company for an audit it performed on the company's books in December. Compute the following; round your answers to the nearest cent.
| a. Net FUTA tax |
| b. SUTA tax |
How Do i figure this out
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 3 images
