Due to its experience rating, Ianelli, Inc., is required to pay unemployment taxes on its payroll as follows: Under SUTA for Massachusetts on taxable payroll of $17,100, the contribution rate is 4%. Under SUTA for New Hampshire on taxable payroll of $27,000, the contribution rate is 6.65%. Under SUTA for Maine on taxable payroll of $75,200, the contribution rate is 2.9%. Under FUTA, the taxable payroll is $104,000. Compute the following; round your answers to the nearest cent. a. SUTA taxes paid to Massachusetts $fill in the blank 1 b. SUTA taxes paid to New Hampshire $fill in the blank 2 c. SUTA taxes paid to Maine $fill in the blank 3 d. FUTA taxes paid $fill in the blank 4
Due to its experience rating, Ianelli, Inc., is required to pay unemployment taxes on its payroll as follows: Under SUTA for Massachusetts on taxable payroll of $17,100, the contribution rate is 4%. Under SUTA for New Hampshire on taxable payroll of $27,000, the contribution rate is 6.65%. Under SUTA for Maine on taxable payroll of $75,200, the contribution rate is 2.9%. Under FUTA, the taxable payroll is $104,000. Compute the following; round your answers to the nearest cent. a. SUTA taxes paid to Massachusetts $fill in the blank 1 b. SUTA taxes paid to New Hampshire $fill in the blank 2 c. SUTA taxes paid to Maine $fill in the blank 3 d. FUTA taxes paid $fill in the blank 4
Chapter5: Unemployment Compensation Taxes
Section: Chapter Questions
Problem 17PB
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Question
Since the SUTA rates changes are made at the end of each year, the available 2020 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.
Example 5-7
Shu Company located in Arkansas had FUTA taxable wages of $130,000 and SUTA taxable wages (on first $10,000) were $210,000 with a 0.9 percent SUTA tax rate. The total
FUTA tax – $130,000 × 0.6% | = | $780 |
SUTA tax – $210,000 × 0.9% | = | 1,890 |
Total unemployment taxes | $2,670 |
Due to its experience rating, Ianelli, Inc., is required to pay unemployment taxes on its payroll as follows:
- Under SUTA for Massachusetts on taxable payroll of $17,100, the contribution rate is 4%.
- Under SUTA for New Hampshire on taxable payroll of $27,000, the contribution rate is 6.65%.
- Under SUTA for Maine on taxable payroll of $75,200, the contribution rate is 2.9%.
- Under FUTA, the taxable payroll is $104,000.
Compute the following; round your answers to the nearest cent.
a. SUTA taxes paid to Massachusetts | $fill in the blank 1 |
b. SUTA taxes paid to New Hampshire | $fill in the blank 2 |
c. SUTA taxes paid to Maine | $fill in the blank 3 |
d. FUTA taxes paid | $fill in the blank 4 |
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