LO 6-2, 6-3 Storm Murphy is the owner of Stormy Banana Films in West Hollywood, California. Stormy

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LO 6-2, 6-3 Storm Murphy is the owner of Stormy Banana Films in West Hollywood, California. Stormy Banana Films had 15 employees with total annual wages of $214,750 in 2023 (no one exceeded the Medicare tax surcharge or Social Security cap). The FUTA rate for California in 2023 is 0.6 percent.

Stormy Banana Films has a SUTA rate of 3.2 percent for 2023 with a wage base of $7,000. Compute the following employer taxes:

Social Security tax:_____ Medicare tax:_____ FUTA tax:_____ SUTA tax:_____

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Payroll Accounting 2024

ISBN: 9781266832352

10th International Edition

Authors: Jeanette Landin, Paulette Schirmer

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