Using the information from P6-4A, compute the employers share of the taxes. The FUTA rate in Kentucky
Question:
Using the information from P6-4A, compute the employer’s share of the taxes. The FUTA rate in Kentucky for 2022 is 0.6 percent on the first $7,000 of employee wages, and the SUTA rate is 5.4 percent with a wage base of $11,100.
Federal income tax withholding: _____
Social Security tax: _____
Medicare tax: _____
FUTA tax: _____
SUTA tax: _____
State income tax withholding: _____
Data From in P6-4A
Greer Utsey earned $47,500 in 2022 for a company in Kentucky. Greer is single with one dependent under 17 and is paid weekly. Compute the following employee share of the taxes using the percentage method in Appendix C and the state information in Appendix D. The box in Step 2 was not checked.
Step by Step Answer:
Payroll Accounting 2023
ISBN: 9781264415618
9th Edition
Authors: Jeanette M. Landin, Paulette Schirmer