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Since the SUTA rates changes are made at the end of each year, the available 2022 rates were used for FUTA and SUTA. Note:
Since the SUTA rates changes are made at the end of each year, the available 2022 rates were used for FUTA and SUTA. Note: For this textbook edition the rate 0.6% was used for the net FUTA tax rate for employers. Example 5-7 Shu Company located in Georgia had FUTA taxable wages of $130,000 and SUTA taxab wages (on first $9,500) were $210,000 with a 0.9 percent SUTA tax rate. The total unemployment taxes that Shu Company is liable for are: FUTA tax - $130,000 0.6% SUTA tax - $210,000 x 0.9% Total unemployment taxes $ 780 1,890 $2,670 Due to its experience rating, Chang, Inc., is required to pay unemployment taxes on its payroll as follows: 1. Under SUTA for New Mexico on taxable payroll of $28,000, the contribution rate is 3.9%. 2. Under SUTA for Colorado on taxable payroll of $23,000, the contribution rate is 7.15%. 3. Under SUTA for Utah on taxable payroll of $65,000, the contribution rate is 4.1%. 4. Under FUTA, the taxable payroll is $94,500. Compute the following; round your answers to the nearest cent. a. SUTA taxes paid to New Mexico b. SUTA taxes paid to Colorado c. SUTA taxes paid to Utah d. FUTA taxes paid
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