The current Federal Unemployment Taxes (FUTA) tax rate is 0.6%, and the State Unemployment Taxes (SUTA) tax rate is 5.4%. Both taxes are applied to the first $7,000 of an employee's pay. Assume that an employee earned total wages of $2,960 in the current period and had cumulative pay for prior periods of $5,920. What is the amount of unemployment taxes the employer must pay on this employee's wages for the current period? Multiple Choice ○ $420.00. ○ $355.20. ○ $64.80. О о $177.60. $0.00.

The current Federal Unemployment Taxes (FUTA) tax rate is 0.6%, and the State Unemployment Taxes (SUTA) tax rate is 5.4%. Both taxes are applied to the first $7,000 of an employee's pay. Assume that an employee earned total wages of $2,960 in the current period and had cumulative pay for prior periods of $5,920. What is the amount of unemployment taxes the employer must pay on this employee's wages for the current period? Multiple Choice ○ $420.00. ○ $355.20. ○ $64.80. О о $177.60. $0.00.

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

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter5: Unemployment Compensation Taxes

Section: Chapter Questions

Problem 11PA

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