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For each of the described pay periods, determine the taxable earnings subject to FUTA tax: NOTE: For simplicity, all calculations throughout this exercise, both intermediate
For each of the described pay periods, determine the taxable earnings subject to FUTA tax:
NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
3: A business employs three individuals, whose taxable earnings to date (prior to the current pay period) are $5,200, $46,700 and $500. During the current pay period, these employees earn $1,900, $1,070 and $1,080, respectively.
Taxable earnings subject to FUTA tax = $
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