Question
What is the amount of the FUTA tax payment for the fourth quarter? Since the SUTA rates changes are made at the end of each
What is the amount of the FUTA tax payment for the fourth quarter?
Since the SUTA rates changes are made at the end of each year, the available 2019 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.
The information listed below refers to the employees of Lemonica Company for the year ended December 31, 20--. The wages are separated into the quarters in which they were paid to the individual employees.
Name
Social Security #
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
Total
Robert G. Cramer
000-00-0001
$5,800
$5,000
$5,000
$5,200
$21,000
Daniel M. English (Foreman)
000-00-0003
13,000
13,400
13,400
13,400
53,200
Ruth A. Small
000-00-1998
2,000
2,300
2,300
2,400
9,000
Harry B. Klaus
000-00-7413
11,600
11,700
11,700
11,700
46,700
Kenneth N. George (Manager)
000-00-6523
13,600
14,000
14,500
15,000
57,100
Mavis R. Jones
000-00-6789
1,600
1,700
1,700
-0-
5,000
Marshall T. McCoy
000-00-3334
11,400
11,400
-0-
-0-
22,800
Bertram A. Gompers (President)
000-00-1014
24,500
25,000
25,500
26,300
101,300
Arthur S. Rooks
000-00-7277
-0-
700
1,700
1,700
4,100
Mary R. Bastian
000-00-8111
8,000
8,200
8,200
8,200
32,600
Klaus C. Werner
000-00-2623
2,300
2,500
2,500
2,500
9,800
Kathy T. Tyler
000-00-3534
-0-
-0-
11,300
11,700
23,000
Totals
$93,800
$95,900
$97,800
$98,100
$385,600
For 20--, State D's contribution rate for Lemonica Company, based on the experience-rating system of the state, was 2.8% of the first $7,000 of each employee's earnings. The state tax returns are due one month after the end of each calendar quarter. During 20--, the company paid $2,214.80 of contributions to State D's unemployment fund. The president of the company prepares and signs all tax forms. The company uses Magnetic Media UC-2A when completing the form.
Employer's phone number: (613) 555-0029. Employer's State D reporting number: 00596.
Using the forms below, complete the following for 20--. Indicate on each form the date that the form should be electronically submitted and the amount of money that must be paid.
a.What is the date and amount of the FUTA tax payment for the fourth quarter of 20--? State D is not a credit reduction state. Enter date in mm/dd/yyyy format.
Tax Payment:
Date
1/31/20--
Amount
$
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started