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In the following problems, use the net FUTA tax rate of 0.8% on the first $7,000 of taxable wages. SUTA will be paid on the first 8,500 for ER with no limit for the EE.
Niemann Company has a SUTA tax rate for the ER is 7.1% and .03% for the EE. The taxable payroll for the year for FUTA and SUTA is $82,600. Assume that the total payroll for the year is also $82,600.
1. The amount of FUTA tax for the year is (Points : 3) $660.80
$5,864.60
$5,121.20
$4,460.40

2. The amount of SUTA tax for the ER for the year is (Points : 3) $660.80
$5,121.20
$5,864.60
$4,460.40

3. The amount of SUTA tax deducted from the EE wages would be: (Points : 3) $58.65
$33.04
$24.78
$66.08

4. The amount of FUTA tax before the credit is: (Points : 3) $5,121.20
$4,460.40
$527.00
$459.00

5. The amount of the FUTA tax credit would be: (Points : 3) $5,121.20
$660.80
$527.00
$4,460.40

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