Question
Peroni Company paid wages of $162,300 this year. Of this amount, $108,400 was taxable for net FUTA and SUTA purposes. The state's contribution tax rate
Peroni Company paid wages of $162,300 this year. Of this amount, $108,400 was taxable for net FUTA and SUTA purposes. The state's contribution tax rate is 3.1% for Peroni Company. Due to cash flow problems, the company did not make any SUTA payments until after the Form 940 filing date. Compute the following; round your answers to the nearest cent.
the rate 0.6% was used for the FUTA tax rate for employers.
a. Amount of credit the company would receive against the FUTA tax for its SUTA contributions b. Amount that Peroni Company would pay to the federal government for its FUTA tax
c. Amount that the company lost because of its late payments
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