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Preston co which has a taxable payroll of 700000 what is

Question - Preston Co., which has a taxable payroll of $700,000, is subject to FUTA tax of 6.2% and a state contribution rate of 5.4%. However, because of stable employment experience, the company's state rate has been reduced to 2%. What is the total amount of federal and state unemployment tax for Preston Co.?

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Accounting Basics: Preston co which has a taxable payroll of 700000 what is

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Accounting Basics: Preston co which has a taxable payroll of 700000 what is

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