Question
I need help with these 2 questions. Stys Company's payroll for the year is $1,210,930. Of this amount, $510,710 is for wages paid in excess
I need help with these 2 questions.
Stys Company's payroll for the year is $1,210,930. Of this amount, $510,710 is for wages paid in excess of $7,000 to each individual employee. The SUTA tax rate for the company is 3.2% on the first $7,000 of each employee's earnings.
Round your answers to two decimal places.
a. The amount of FUTA tax for the year is $. |
b. The amount of SUTA tax for the year is $. |
Aaron Norman earned $24,900 for the year from Marcus Company. The company is subject to a SUTA tax of 4.7% on the first $9,900 of earnings. Determine: (Round your answers to two decimal places, if necessary.)
a. the employer's FUTA tax on Norman's earnings $. |
b. the employer's SUTA tax on Norman's earnings $. |
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