Calculate the employer's total FUTA and SUTA taxes. As TCLH Industries operates in North Carolina, assume a SUTA tax rate of 1.2% and a taxable earnings threshold of $29,600. 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 Payroll Register 1: Zachary Fox FUTA tax = $ SUTA tax = $ 2: Calvin Bell FUTA tax = $ SUTA tax = $ 3: David Alexander FUTA tax = $ SUTA tax = $ 4: Michael Sierra FUTA tax = $ SUTA tax = $
Calculate the employer's total FUTA and SUTA taxes. As TCLH Industries operates in North Carolina, assume a SUTA tax rate of 1.2% and a taxable earnings threshold of $29,600. 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 Payroll Register 1: Zachary Fox FUTA tax = $ SUTA tax = $ 2: Calvin Bell FUTA tax = $ SUTA tax = $ 3: David Alexander FUTA tax = $ SUTA tax = $ 4: Michael Sierra FUTA tax = $ SUTA tax = $
College Accounting (Book Only): A Career Approach
12th Edition
ISBN:9781305084087
Author:Cathy J. Scott
Publisher:Cathy J. Scott
Chapter7: Employee Earnings And Deductions
Section: Chapter Questions
Problem 5E
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Calculate the employer's total FUTA and SUTA taxes. As TCLH Industries operates in North Carolina, assume a SUTA tax rate of 1.2% and a taxable earnings threshold of $29,600. 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
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