Pharoah Co. has a taxable payroll of $1320000. The company is subject to FUTA tax of 6.2% that includes a state contribution rate of 5.4%. However, because of its low employee turnover, it has been granted a reduction in the state rate to 2%. The total amount of federal and state unemployment tax for Pharoah Co. pay is $36960 $81840 ง $39600 $153120

Pharoah Co. has a taxable payroll of $1320000. The company is subject to FUTA tax of 6.2% that includes a state contribution rate of 5.4%. However, because of its low employee turnover, it has been granted a reduction in the state rate to 2%. The total amount of federal and state unemployment tax for Pharoah Co. pay is $36960 $81840 ง $39600 $153120

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter5: Unemployment Compensation Taxes

Section: Chapter Questions

Problem 11PB

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