Question
Peroni Company paid wages of $164,900 this year. Of this amount, $125,600 was taxable for net FUTA and SUTA purposes. The state's contribution tax rate
Peroni Company paid wages of $164,900 this year. Of this amount, $125,600 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. 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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