Since the SUTA rates changes are made at the end of each year and there is talse Print Item Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers much discussion about changes to the FUTA rate, the avaiable 2017 rates were osed for FUTA and SUTA Example 5-8 1. The Iqbal Company of Georgia had a FUTA taxabie payroll of $215,600 and a sSUTA taxable payroll of $255,700 with a 5.6 percent SUTA tax rate. The company would pay unemployment taxes of: FUTA $215,6000.006- $ 1,293.60 SUTA $255,700 x 0.056 14,319.20 Total taxes $15,612.80 2. Kresloff Company has only two employees and is located in a state that has set an unemployment tax for the compeny of 4.8 percent on the first $12,000 of each employee's earnings. Both employees are paid the same amount each week ($900) and have earned $11,500 up to this week's pay. The unemployment taxes that the company must pay for this week's pay wouid be $48. FUTA tax (both over $7,000) $.00 SUTA tax ($1,000 x 0.048) $48.00 ($500 of each employee's pay is under the state taxable limit of $12,000) Yengling Company's payroll for he year is $593 1 so of this amount, S211,630 is for wages paid in excess of $7,000 to each individual employee. The suTA te m Yeng gC pr sttes 25% ont, estm00of Compute: Round your answers to the nearest a. Net FUTA tax b. Net SUTA tax c. Total unemployment taxes na s cent of 2018 All work saved. Check My Work