Using the information from P5-4B, compute the employers share of the taxes. The FUTA rate in Pennsylvania
Question:
Using the information from P5-4B, compute the employer’s share of the taxes. The FUTA rate in Pennsylvania for 2016 is .6% on the first $7,000 of employee wages, and the SUTA rate is 3.456% with a wage base of $9,500.
Data from P5-4B
Leslie earned $155,000 in 2016 for a company in Pennsylvania. She is single with four dependents and is paid annually. Leslie contributed $3,550 to her 401(k) plan and $2,000 to her Section 125 plan. Employees in Pennsylvania contribute 0.07% of gross pay toward SUTA tax, which has a wage base for 2016 of $9,500. Compute Leslie’s share of the taxes, using the wage bracket tables in Appendix C to determine Federal income tax.
Step by Step Answer:
Payroll Accounting 2017
ISBN: 978-1259572180
3rd edition
Authors: Jeanette Landin, Paulette Schirmer