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Calculate employer's SUTA tax for Chee -- Paloma Co. Required: Part 3. Calculate the employer's SUTA tax for Chee. What is the amount of this
Calculate employer's SUTA tax for Chee -- Paloma Co. Required: Part 3. Calculate the employer's SUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 3 Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $117,000 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7,000 paid to each employee, the company's FUTA taxes are 0.6% and SUTA taxes are 6.20%. The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the company's four employees: Current Week Gross Pay Income Tax Name through Aug. 18 Gross Pay Withholding Dahlia $115,900 $2,900 $412 Trey 116,550 450 72 Kiesha 8.900 630 55 Chee 2,850 580 44 In addition to gross pay, the company must pay one-half of the $96 per employee for weekly health insurance. Each employee pays the remaining one-half of the weekly health insurance. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund. Calculate employer's SUTA tax for Chee -- Paloma Co. Required: Part 3. Calculate the employer's SUTA tax for Chee. What is the amount of this tax? Required: Show all calculations for Part 3 Paloma Co. has four employees. FICA Social Security taxes are 6.2% of the first $117,000 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7,000 paid to each employee, the company's FUTA taxes are 0.6% and SUTA taxes are 6.20%. The company is preparing its payroll calculations for the week ended August 25. Payroll records show the following information for the company's four employees: Current Week Gross Pay Income Tax Name through Aug. 18 Gross Pay Withholding Dahlia $115,900 $2,900 $412 Trey 116,550 450 72 Kiesha 8.900 630 55 Chee 2,850 580 44 In addition to gross pay, the company must pay one-half of the $96 per employee for weekly health insurance. Each employee pays the remaining one-half of the weekly health insurance. The company also contributes an extra 8% of each employee's gross pay (at no cost to employees) to a pension fund
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