FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The SUTA rate for Thomson Temp Agency is 5.4% and Its FUTA rate is 6% less the 5.4% SUTA credit.
If its semimonthly payroll is $137,320 and none was for payments to employees in excess of the $7,000 wage base; then what are the total FUTA and SUTA taxes (in $)
for the payroll?
$823.92
SUTA tax
$
FUTA tax
Total tax
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Transcribed Image Text:The SUTA rate for Thomson Temp Agency is 5.4% and Its FUTA rate is 6% less the 5.4% SUTA credit. If its semimonthly payroll is $137,320 and none was for payments to employees in excess of the $7,000 wage base; then what are the total FUTA and SUTA taxes (in $) for the payroll? $823.92 SUTA tax $ FUTA tax Total tax Need Help? Enter a number. Read It Watch It Master I
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