SUTA Tax Rate Assignment | Top Universities
March 17th, 2020
An employee earned $62,100 during the year working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400 of employee earnings per calendar year and the FICA tax rate for Medicare is 1.45% of all earnings.
The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee’s pay. What is the amount of total unemployment taxes the employee must pay?
Multiple Choice
- $0.00
- $56.00
- $434.00
- $378.00. Get Accounting Homework Help Today