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May 15 Paid employees. Gross wages for the first half of the month: $3,000. Federal income tax withholding: $337. State income tax withholding: $130. Life
May 15 Paid employees. Gross wages for the first half of the month: $3,000. Federal income tax withholding: $337. State income tax withholding: $130. Life insurance premiums withheld: $65. Applicable SUTA and FUTA tax rates for employees: 5.4% and 0.6%, respectively. To date, no single employee has reached the Social Security, FUTA, or SUTA tax thresholds.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
