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shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.6%, both of which are levied on , 400 of earnings.
shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.6%, both of which are levied on , 400 of earnings. The Medicare rate is 1.45% on gross earnings. Calculation and Journal Entry for Employer Payroll Taxes Portions of the payroll register for Barney's Bagels for the week ended July 15 are shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.6\%, both of which the first $7,000 of earnings. The Social Security tax rate is 6.2% on the first $128,400 of earnings. The Medicare rate is 1.45% on gross earnings. 1. Calculate the employer's payroll taxes expense. x Feedback Ched My Work For Social Security and Medicare, total earnings are taxable for this exercise
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