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Assume the 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 employee's
Assume the 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 employee's pay. What is the total unemployment tax an employee must pay on an their annual wages of $40,000 ? 1. $2,400 2. $420 3. $42 4. $0, employees do not pay unemployment tax 5. $0, their wages exceed the $7,000 maximum
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Accounting Principles Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
9th Canadian Edition
978-1119786818, 1119786819
