Multiple Choice
Timmons Co., which has a taxable payroll of $500,000, is subject to FUTA tax of 6.2% and a state contribution rate of 5.4%.However, because of stable employment experience, the company's state rate has been reduced to 2%.What is the total amount of federal and state unemployment tax for Timmons Co.?
A) $58,500
B) $41,000
C) $20,000
D) $14,000
Correct Answer:
Verified
Correct Answer:
Verified
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