Essay
Instruction 5-1
Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages.
Refer to Instruction 5-1 . Sparks Company's SUTA rate for next year is 3.25% because its reserve ratio falls into the state's 10% to less than 12% category [(contributions - benefits paid) ÷ average payroll = $414,867 ÷ $3,521,790 = 11.78%]. If the next bracket (12% to less than 14%) would give the company a lower tax rate of 3.05%, what would be the least amount of the voluntary contribution needed to qualify the company for the 3.05% SUTA tax rate?
Correct Answer:
Verified
Correct Answer:
Verified
Q49: A federal unemployment tax is levied on:<br>A)
Q50: For FUTA purposes, an employer can be
Q51: Currently, none of the states imposes an
Q52: If an employer pays unemployment taxes to
Q53: All of the states allow employers to
Q55: Fred Stone is an employee of Henrock
Q56: Unlike Form 941, there is no penalty
Q57: The mailing of Form 940 is considered
Q58: Instruction 5-1 <br>Use the net FUTA tax
Q59: If the employer has made timely deposits