Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Multiple Choice Question 105 Concord Corporation, which has a taxable payroll of $1180000, is subject to FUTA tax of6.2% and a state contribution rate of5.4%.

Multiple Choice Question 105

Concord Corporation, which has a taxable payroll of $1180000, is subject to FUTA tax of6.2% and a state contribution rate of5.4%. However, because of stable employment experience, the company's state rate has been reduced to2%. What is the total amount of federal and state unemployment tax forConcord Corporation?

$33040

$136880

$96760

$47200

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Intelligence A Managerial Perspective on Analytics

Authors: Ramesh Sharda, Dursun Delen, Efraim Turban

3rd edition

133051056, 978-0133051056

More Books

Students also viewed these Accounting questions