Compute net futa tax


Sam's company's payroll for the year is $737,910. Of this amount $472,120 is for wages paid in excess of $7,000 to each individual employee. The SUTA rate is Sam's Company's state is 2.9% on the first $7,000 for each employee's earnings Compute:

(a)    Net FUTA tax $...

(b)    Net SUTA tax $...

(c)    Total unemployment taxes $..

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Accounting Basics: Compute net futa tax
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