Calculate the Workers' Compensation premium owing for an employer in Ontario with assessable earnings equal to $295,000 annually in the agricultural Industry rate category (assume no employees exceed the maximum assessable earnings for the year)
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Calculate the Workers' Compensation premium owing for an employer in Ontario with assessable earnings equal to $295,000 annually in the agricultural Industry rate category (assume no employees exceed the maximum assessable earnings for the year)
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- What is the Workers' Compensation premium owing for an employer in Ontario with assessable earnings equal to $473,000 annually in the Machinery, Electrical Equipment and Miscellaneous Manufacturing category (assume no employees exceed the maximum assessable earnings) for the year of 2022? D. $372,578.0 C. $4,730.0 E. $3,986.6 A. 5,061.1 B. $506,110.0For each circumstances, calculate the SUTA tax owed by the employer. Assume a SUTA tax rate of 3.4% and a taxable earnings threshold of $8,500. A-1 Framing employs three workers who, as of the beginning of the current pay period, have earned $8,550, $8,200, and $7,400. Calculate SUTA tax for the current pay period if these employees earn taxable pay of $1,100, $1,420, and $2,140, respectively. SUTA tax = $ What is the SUTA tax?The following information is noted on the year end payroll register for an employee employed with a Québec employer: Regular earnings $85,000.00, vacation pay $3,800.00, taxable car allowance $630.00, non-cash taxable benefit for group term life insurance $169.00 and a non-eligible retiring allowance of $15,000.00. Calculate the amount that would be reported in Box I of the RL-1?
- An Ontario employee is paid on a bi-weekly pay schedule. His Gross Earnings for this pay cycle is $2,346.52, CPP contribution is $125.35, EI contribution is $36.37, Federal taxes are $309.25 and Ontario taxes are $158.45. Received a family support court order for $4,500. Calculate the amount to be withheld from employee’s payroll on this pay cycle? 2,250 900 4,500 343.42 858.55An employee receives a bi-weekly gross salary of $2,000. The employee's deductions include income tax of $218, CPP of $99, El of $36, and union dues of $50. The employer's share of the deductions includes CP of $139 and El of $36. What is the total amount of salaries and employee benefits expense that X Corp. would record on its income statement as a result of the employee's bi-weekly salary?An employee receives a bi-weekly gross salary of $2,000. The employee’s deductions include income tax of $218, CPP of $99, EI of $36, and union dues of $50. The employer’s share of the deductions includes CPP of $139 and EI of $36. What is the total amount of salaries and employee benefits expense that X Corp. would record on its income statement as a result of the employee's bi-weekly salary? answers a. $1,597 b. $1,772 c. $2,000 d. $2,175
- Calculate the employer's total FUTA and SUTA taxes. As TCLH Industries operates in North Carolina, assume a SUTA tax rate of 1.2% and a taxable earnings threshold of $29,600. Current period taxable earnings for FUTA and SUTA taxes are the same as those for FICA taxes. Year-to-date taxable earnings for FUTA and SUTA taxes, prior to the current pay period, are as follows: Zachary Fox: $0 Calvin Bell: $20,478.57 David Alexander: $198,450 Michael Sierra: $117,600Greenwell Ltd. located in Alberta has a workers' compensation premium rate of $4.55 per $100.00of assessable payroll. The actual assessable payroll for the previous year consisted of: regular salaries and wages of $678,750.00, overtime pay of $12,700.00, work related bonuses of $52,000.00, vacation pay of $85,250.00 and taxable benefits of $11,300.00. Estimate the organization's assessment for this yearAn Ontario employer with annual insurable earnings of $15,000 would be required to remit workers' compensation premiums for the month of April by: a. May 31st b. April 30th C. June 30th d. April 30th of the following year e. July 31st
- Assume that the MUST Co. pays a weekly payroll. Using the portion of the Wage Bracket Withholding Table given, what would be the amount of federal income tax to withhold for this pay period for a single employee whose gross earning is $1,250 and who counted 1 withholding allowance? Table for Percentage Method of Withholding WEEKLY Payroll Period SINGLE person(including head of household)-- Assume the deduction for each withholding allowance is $75. If the amount of wages (after subtracting withholding allowances) is: The amount of income tax to withhold is $0 Not over $43. ... ver--- But not over-- of excess over-- $43 --$222 | $ 0.00 plus 10% ---$43 $222 ---$767 $17.90 plus 15% --$222 $767 --$1,796 | $99.65 plus 25% ---$767 $1,796 --$3,700 | $356.90 plus 28% --$1,796 --- $3,700 ---$7,992 | $890.02 plus 33% --$3,700 --- $7,992 ---$8,025 | $2,306.38 plus 35% ---$7,992 $8,025 $2,317.93 plus 39.6% ---$8,025 $99.65 $102.00 $312.50 $201.65If an employee has received over one million dollars in supplemental earnings for the year, any further supplemental earnings should be withheld a.at a 22% withholding rate. b.using the wage bracket method. c.at a 37% withholding rate. d.using the aggregate method.An employee receives the following compensation and benefits during the year while working:Annual Basic Salary Php 245,000.0013th Month Pay Php 20,416.67Company Bonuses Php 5,500.00Rice Subsidy Php 1,800.00/yearClothing Allowance Php 5,000.00/yearMedical benefits Php 9,500.00/yearLaundry allowance Php 2,400.00/year Present the computation of the taxable and non-taxable compensation income of the employee.