Reference no: EM132782099
Question - Determine the Taxable Earnings Subject to FUTA Tax
For each of the described pay periods, determine the taxable earnings subject to FUTA tax:
For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.
1: A business employs three individuals, whose taxable earnings to date (prior to the current pay period) are $5,700, $8,000, and $1,000. During the current pay period, these employees earn $1,700, $3,320, and $2,700, respectively.
2: A business employs two individuals, whose taxable earnings to date (prior to the current pay period) are $2,400, and $7,200. During the current pay period, these employees earn $1,250 and $750, respectively.
3: A business employs three individuals, whose taxable earnings to date (prior to the current pay period) are $26,700, $4,400, and $6,850. During the current pay period, these employees earn $2,320, $2,550, and $3,100, respectively.
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Question - Determine Taxable Earnings Subject to FUTA Tax
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