Howard Murphy is the ower of Stormy Banana Films in West Hollywood, California. Stormy Banana Films had 15 employees with total annual wages of $230,750 (no one exceesed the Medicare tax surcharge or Social Security cap.). The FUTA rate for California in 2019 is 2.2 percent because it is a credit reduction state. Stormy Banana Films has a SUTA rate of 3.2 percent for 2019 with wage base of $7,000. Require: Compute the following employer taxes. (Round your answer to 2 decimal places.) Soical security tax Medicare tax FUTA SUTA
Howard Murphy is the ower of Stormy Banana Films in West Hollywood, California. Stormy Banana Films had 15 employees with total annual wages of $230,750 (no one exceesed the Medicare tax surcharge or Social Security cap.). The FUTA rate for California in 2019 is 2.2 percent because it is a credit reduction state. Stormy Banana Films has a SUTA rate of 3.2 percent for 2019 with wage base of $7,000. Require: Compute the following employer taxes. (Round your answer to 2 decimal places.) Soical security tax Medicare tax FUTA SUTA
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Howard Murphy is the ower of Stormy Banana Films in West Hollywood, California. Stormy Banana Films had 15 employees with total annual wages of $230,750 (no one exceesed the Medicare tax surcharge or Social Security cap.). The FUTA rate for California in 2019 is 2.2 percent because it is a credit reduction state. Stormy Banana Films has a SUTA rate of 3.2 percent for 2019 with wage base of $7,000.
Require: Compute the following employer taxes. (Round your answer to 2 decimal places.)
Soical security tax
Medicare tax
FUTA
SUTA
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