The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both taxes...

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The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both taxes are applied to the first $7,000 of an employees

business accounting

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Answer 1

Answer #1

Total unemployment taxes the employer must pay on this employee's wages = $420

Notes

FUTA = $7000 * 0.6% = $42

SUTA = $7000 * 5.4% = $378

Total Employment Taxes = 42+378 = $420

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Answer 2

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