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Mi Casa Restaurants of Las Cruces, New Mexico, has the following employees as of December 31: Employee Name Annual Taxable Wages A. Shelby $ 34,900
Mi Casa Restaurants of Las Cruces, New Mexico, has the following employees as of December 31:
Employee Name | Annual Taxable Wages |
---|---|
A. Shelby | $ 34,900 |
M. Gomez | $ 17,700 |
C. Wardly | $ 25,500 |
E. Burgess | $ 33,240 |
S. Black | $ 31,200 |
Required:
The company's SUTA tax rate is 4.25 percent and the wage base is $11,000. Mi Casa Restaurants FUTA tax rate of 6 percent is subject to a 5.4 percent reduction and applies to the first $7,000 of employee wages. What is the annual amount of FUTA and SUTA taxes due for each employee?
Note: Round your answers for "SUTA Due" to 2 decimal places.
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