Question
For each of the following independent circumstances calculate the SUTA tax owed by the employer. Assume a SUTA tax rate of 3.4% and a taxable
For each of the following independent circumstances calculate the SUTA tax owed by the employer. Assume a SUTA tax rate of 3.4% and a taxable earnings threshold of $8,500. NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
1:Hometown Bakery employs three workers who, as of the beginning of the current pay period, have earned $16,200, $7,150, and $4,000. Calculate SUTA tax for the current pay period if these employees earn taxable pay of $1,450, $2,100, and $960, respectively. SUTA tax = $
2:Electronics Outlet employs two workers who, as of the beginning of the current pay period, have earned $8,400 and $7,200. Calculate SUTA tax for the current pay period if these employees earn taxable pay of $3,450 and $2,250, respectively. SUTA tax = $
3:Delivery Inc. employs 127 workers who, for the current pay period, earn total taxable pay of $347,540. Of this amount, only $31,400 are subject to SUTA tax, as this is the portion of individual employee earnings that does not exceed the $8,500 threshold. Calculate SUTA tax based on these earnings. SUTA tax = $
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