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The taxable FUTA wages and determining FUTA taxes due. Presented below is the GROSS Pay of each employee at First Choice. EE Q1 Q2 Q3
The taxable FUTA wages and determining FUTA taxes due.
Presented below is the GROSS Pay of each employee at First Choice.
EE | Q1 | Q2 | Q3 | Q4 | Total |
1 | 3500 | 3500 | 3200 | 3200 | 14000 |
2 | 8900 | 8400 | 8800 | 8300 | 34400 |
3 | 2100 | 2400 | 2400 | 2500 | 9400 |
4 | 1800 | 2600 | 2600 | 2600 | 9600 |
5 | 7400 | 7400 | 0 | 0 | 14800 |
6 | 0 | 1700 | 2700 | 2700 | 7100 |
7 | 3100 | 3200 | 3100 | 0 | 9400 |
8 | 0 | 0 | 5400 | 5400 | 10800 |
Total | 2680 | 29200 | 28200 | 24700 |
Employers are taxed on the first $7,000 on gross wages (not federal) for each employee. Gross wages are taxed at 0.6% (.006 as a decimal).
Indiana SUTA tax rate: Employers are taxed on the first $9,500 on gross wages (not federal) for each employee.
Determine each employee FUTA taxable wages.
EE | Q1 | amount that is taxable | Q2 | amount that is taxable | Q3 | amount that is taxable | Q4 | amount that is taxable | Total |
1 | 3500 | 3500 | 3500 | 3500 | 3200 | 0 | 3200 | 0 | 7000 |
2 | 8900 | 7000 | 8400 | 0 | 8800 | 0 | 8300 | 0 | 7000 |
3 | 2100 | 2100 | 2400 | 2400 | 2400 | 2400 | 2500 | 100 | 7000 |
4 | 1800 | 1800 | 2600 | 2600 | 2600 | 2600 | 2600 | 0 | 7000 |
5 | 7400 | 7000 | 7400 | 0 | 0 | 0 | 0 | 0 | 7000 |
6 | 0 | 0 | 1700 | 1700 | 2700 | 2700 | 2700 | 2600 | 7000 |
7 | 3100 | 3100 | 3200 | 3200 | 3100 | 700 | 0 | 0 | 7000 |
8 | 0 | 0 | 0 | 0 | 5400 | 5400 | 5400 | 1600 | 7000 |
Total | 26800 | 24500 | 29200 | 13400 | 28200 | 13800 | 24700 | 4300 |
- What is employee #1 taxable FUTA wages for quarter 3? $0
- What is employee #1 taxable FUTA wages for quarter 4? $0
- What is employee #5 taxable FUTA wages for quarter 1? $7000
- What is employee #5 taxable FUTA wages for quarter 2? $0
- What is line 3 of Form 940?
- What is line 5 of Form 940?
- What is line 8 of Form 940?
- For year 2020, what is line 11 of Form 940?
- What is line 16a of Form 940?
- What is line 16d of Form 940?
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