1: An employer in Cleveland, OH, employs two individuals, whose taxable earnings to date (prior to the current pay period) are $5,000 and $12,000. During the current payperiod, these employees earn $1,800 and $2,000, respectively.FUTA tax = $ 126.662: An employer in Nesconset, NY, employs three individuals, whose taxable earnings to date (prior to the current pay period) are $6,900, $1,000, and $24,200. During thecurrent pay period, these employees earn $2,400, $1,750, and $3,000, respectively.FUTA tax = $ 235.50×3: An employer in The U.S. Virgin Islands employs two individuals, whose taxable earnings to date (prior to the current pay period) are $8,500, and $3,400. During thecurrent pay period, these employees earn $880 and $675, respectively.FUTA tax = $ 664.50×4: An employer in Cary, NC, employs three individuals, whose taxable earnings to date (prior to the current pay period) are $5,900, $8,900, and $6,600. During the currentpay period, these employees earn $940, $1,020, and $850, respectively.FUTA tax = $8.04

Step 1:FUTA TaxFUTA (Federal Unemployment Tax Act) tax is imposed on the first $7,000 of an…

Answered: 1: An employer in Cleveland, OH,…

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter5: Unemployment Compensation Taxes

Section: Chapter Questions

Problem 5PB

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During the year, employee Sean Matthews earned wages in the amount of 250,000. Discuss how the employees HI tax will differ from the employers HI tax for this employee.
Lemur Corp. is going to pay three employees a year-end bonus. The amount of the year-end bonus and the amount of federal income tax withholding are as follows. Lemurs payroll deductions include FICA Social Security at 6.2%, FICA Medicare at 1.45%, FUTA at 0.6%, SUTA at 5.4%, federal income tax as previously shown, state income tax at 5% of gross pay, and 401(k) employee contributions at 2% of gross pay. Record the entry for the employee payroll on December 31.
An employee earns $8,000 in the first pay period. The FICA Social Security Tax rate is 6.2%, and the FICA Medicare tax rate is 1.45%. What is the employees FICA taxes responsibility? A. $535.50 B. $612 C. None, only the employer pays FICA taxes D. $597.50 E. $550
1: An employer in Cleveland, OH, employs two individuals, whose taxable earnings to date (prior to the current pay period) are $5,000 and $12,000. During the current pay period, these employees earn $1,850 and $2,260, respectively.FUTA tax = $ 2: An employer in Nesconset, NY, employs three individuals, whose taxable earnings to date (prior to the current pay period) are $6,900, $1,000, and $24,200. During the current pay period, these employees earn $2,200, $1,950, and $2,800, respectively.FUTA tax = $ 3: An employer in The U.S. Virgin Islands employs two individuals, whose taxable earnings to date (prior to the current pay period) are $8,500, and $3,400. During the current pay period, these employees earn $870 and $525, respectively.FUTA tax = $ 4: An employer in Cary, NC, employs three individuals, whose taxable earnings to date (prior to the current pay period) are $5,900, $8,900, and $6,600. During the current pay period, these employees earn $960, $1,070, and $820,…
1:An employer in Delaware City, Delaware, employs two individuals, whose taxable earnings to date (prior to the current pay period) are $6,100 and $8,800. During the current pay period, these employees earn $1,450 and $2,000, respectively. The applicable SUTA tax rate is 2.1%, and the Delaware SUTA threshold is $16,500.FUTA tax = $SUTA tax = $ 2:An employer in Bridgeport, Connecticut, employs three individuals, whose taxable earnings to date (prior to the current pay period) are $5,500, $12,900, and $14,200. During the current pay period, these employees earn $2,200, $1,950, and $2,400, respectively. The applicable SUTA tax rate is 4.9%, and the Connecticut SUTA threshold is $15,000.FUTA tax = $SUTA tax = $ 3:An employer in the U.S. Virgin Islands, employs two individuals, whose taxable earnings to date (prior to the current pay period) are $1,420 and $28,500. During the current pay period, these employees earn $3,350 and $1,700, respectively. The applicable SUTA tax rate is 3%,…
An employer in Cary, NC, employs three individuals, whose taxable earnings to date (prior to the current pay period) are $5,900, $8,900, and $6,600. During the current pay period, these employees earn $960, $1,070, and $820, respectively. FUTA tax = $ What is the FUTA tax? The wage limit is 7,000 The FUTA rate for this problem is 0.6% (Self employment tax=net self employment income x 15.3% However, for individuals who have net self-employment income exceeding $200,000 (or $250,000 for married filing jointly), there's an additional Medicare Tax of 0.9% on the excess amount.)
An employer in Cincinnatti, Ohio employs two individuals, whose taxable earnings to date (prior to the current pay period) are $4,900 and $7,700. During the current pay period, these employees earn $2,700 and $1,800, respectively. The applicable SUTA tax rate is 2.5%, and the Ohio SUTA threshold is $9,000. FUTA Tax________ SUTA Tax _____
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A business employs two individuals, whose taxable earnings to date (prior to the current pay period) are $3,000 and $31,400. During the current pay period, these employees earn $3,280 and $1,780, respectively.Taxable earnings subject to FUTA tax = $
An employer in Bridgeport, Connecticut, employs three individuals, whose taxable earnings to date (prior to the current pay period) are $5,500, $12,900, and $14,200. During the current pay period, these employees earn $1,980, $1,940, and $2,300, respectively. The applicable SUTA tax rate is 4.9%, and the Connecticut SUTA threshold is $15,000.FUTA tax = $ SUTA tax = $
An employer in Juneau, Alaska employs three individuals, whose taxable earnings to date (prior to the current pay period) are $37,600, $43,000, and $5,200. During the current pay period, these employees earn $3,750, $4,460, and $1,680, respectively. The applicable SUTA tax rate is 2.5%, and the Alaska SUTA threshold is $41,500.FUTA tax = SUTA tax =
An employer in Nesconset, NY, employs three individuals, whose taxable earnings to date (prior to the current pay period) are $6,900, $1,000, and $24,200. During the current pay period, these employees earn $2,200, $1,950, and $2,800, respectively.FUTA tax = $ What is the FUTA tax? The FUTA rate is for year 2022 The FUTA rate for this problem is 0.9%

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