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Joseph Farmer earned $126,400 in 2018 for a company in Kentucky. He is single with one withholding allowance and is paid annually. The FUTA rate
Joseph Farmer earned $126,400 in 2018 for a company in Kentucky. He is single with one withholding allowance and is paid annually. The FUTA rate in Kentucky for 2018 is 0.6 percent on the first $7,000 of employee wages, and the SUTA rate is 5.4 percent with a wage base of $10,200. Use the percentage method withholding tables in Appendix C and the state information in Appendix D. Use Figure 5.3
Required: Compute the employers share of the taxes. (Round your answers to 2 decimal places.)
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