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Faruga Company had FUTA taxable payrolls for the four quarters of 2015 of $28,400; $19,600; $16,500; and $8,900, respectively. The company was located in a
Faruga Company had FUTA taxable payrolls for the four quarters of 2015 of $28,400; $19,600; $16,500; and $8,900, respectively. The company was located in a state that was subject to a FUTA credit reduction of 0.3%. What was the amount of Farugas first required deposit of FUTA taxes? Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages.
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