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Calculate employer's total FUTA and SUTA tax. As TCLH Industries operates in North Carolina, assume a SUTA tax rate of 1.2% and a taxable earnings
Calculate employer's total FUTA and SUTA tax. As TCLH Industries operates in North Carolina, assume a SUTA tax rate of 1.2% and a taxable earnings threshold of $23,500. Current period taxable earnings for FUTA and SUTA taxes are the same as those for FICA taxes. Year-to-date taxable earnings for FUTA and SUTA taxes, prior to the current pay period, are as follows:
Zachary Fox: $0
NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. Payroll Register Pay Period 12/16/2018 Pay Date 12/20/2018 Deductions Earnings Overtime Overtime FWT SWT Social Medicare Vol. With. Net Pay Employee Name Regular Hours Regular Rate $28.00 Regular Earnings Overtime Earnings Check Number Hours Total Earnings $1,162.00 Rate Security Fox, Z $1,120.00 $42.00 $42.00 $67.00 $58.10 $72.04 $16.85 $32.00 092 $916.01 NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. Payroll Register Pay Period 12/16/2018 Pay Date 12/20/2018 Deductions Earnings Overtime Overtime FWT SWT Social Medicare Vol. With. Net Pay Employee Name Regular Hours Regular Rate $28.00 Regular Earnings Overtime Earnings Check Number Hours Total Earnings $1,162.00 Rate Security Fox, Z $1,120.00 $42.00 $42.00 $67.00 $58.10 $72.04 $16.85 $32.00 092 $916.01Step by Step Solution
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