Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The SUTA rate for LARVA Corporation is 5.4% and its FUTA rate is 6.2% less the 5.4% SUTA credit. If its semimonthly GROSS payroll is

The SUTA rate for LARVA Corporation is 5.4% and its FUTA rate is 6.2% less the 5.4% SUTA credit. If its semimonthly GROSS payroll is $252,400.00 and none was for payments to employees in excess of the $7,000.00 wage base, then what are the total FUTA and SUTA taxes for the payroll?

a. $18,231.71

b. $22,219.51

c. $24,934.52

d. $15,648.80

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

work settings of recent graduates;

Answered: 1 week ago

Question

Analyse the impact of oil price on the stock market of the US

Answered: 1 week ago