Asked by NIDHI THOMAS on Jul 01, 2024
Kim works part-time for Medical Assistants Inc. ,and earned $6,385 for 2017.What amount of FUTA tax must her employer remit to the IRS? Assume her employer receives the maximum credit for state unemployment taxes.
A) $38.31.
B) $39.58.
C) $44.70.
D) $51.08.
FUTA Tax
The Federal Unemployment Tax Act (FUTA) tax is a payroll tax paid by employers to fund state workforce agencies and unemployment insurance.
State Unemployment Taxes
Taxes paid by employers to their state government to fund unemployment insurance benefits for workers who have lost their jobs.
- Recognize and quantify the duties of employers pertaining to the Federal Unemployment Tax Act (FUTA) and State Unemployment Tax Act (SUTA).
Learning Objectives
- Recognize and quantify the duties of employers pertaining to the Federal Unemployment Tax Act (FUTA) and State Unemployment Tax Act (SUTA).
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