Question
: 3.2% in Nebraska and 3.8% in Ohio. Both states base the tax on the first $9,000 of each employee's earnings. This year, Freeman Steel
:3.2% in Nebraska and 3.8% in Ohio. Both states base the tax on the first $9,000 of each employee's earnings. This year, Freeman Steel Company paid Herb Porter wages of $20,900; $2,800 were paid in Nebraska and the remainder in Ohio. Compute the following: round your answers to the nearest cent. a. Amount of SUTA tax the company must pay to Nebraska on Porter's wages $ 89.60 b. Amount of SUTA tax the company must pay to Ohio on Porter's wages $ 235.60 c. Amount of the net FUTA tax on Porter's wages (Ohio is a credit reduction state-1.5%.) $ 166.50 x Feedback Check My Work a. SUTA Taxable payroll times SUTA rate b. SUTA Taxable payroll times SUTA rate c. Multiply taxable FUTA payroll times net FUTA rate; add Taxable wages (in credit reduction state) times credit reduction rate = Net FUTA tax...
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started