Question
Howard Murphy is the owner of Stormy Banana Films in West Hollywood, California. Stormy Banana Films had 15 employees with total annual wages of
Howard Murphy is the owner of Stormy Banana Films in West Hollywood, California. Stormy Banana Films had 15 employees with total annual wages of $227,750 (no one exceeded the Medicare tax surcharge or Social Security cap). The FUTA rate for California in 2021 Is 2.2 percent because it is a credit reduction state. Stormy Banana Films has a SUTA rate of 3.2 percent for 2021 with a wage base of $7.000. Required: Compute the following employer taxes. (Round your answers to 2 decimal places.) Social Security tax Medicare tax FUTA tax SUTA tax
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