Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. Aaron Norman earned $24,900 for the year from Marcus Company. The company is subject to a SUTA tax of 4.7% on the first $9,900 of earnings. Determine: (Round your answers to two decimal places, if necessary.) a. the employer's FUTA tax on Norman's earnings $fill in the blank 1. b. the employer's SUTA tax on Norman's earnings $fill in the blank 2.
Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. Aaron Norman earned $24,900 for the year from Marcus Company. The company is subject to a SUTA tax of 4.7% on the first $9,900 of earnings. Determine: (Round your answers to two decimal places, if necessary.) a. the employer's FUTA tax on Norman's earnings $fill in the blank 1. b. the employer's SUTA tax on Norman's earnings $fill in the blank 2.
College Accounting (Book Only): A Career Approach
12th Edition
ISBN:9781305084087
Author:Cathy J. Scott
Publisher:Cathy J. Scott
Chapter7: Employee Earnings And Deductions
Section: Chapter Questions
Problem 3E
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Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages.
Aaron Norman earned $24,900 for the year from Marcus Company. The company is subject to a SUTA tax of 4.7% on the first $9,900 of earnings. Determine: (Round your answers to two decimal places, if necessary.)
a. the employer's FUTA tax on Norman's earnings $fill in the blank 1. |
b. the employer's SUTA tax on Norman's earnings $fill in the blank 2. |
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