Since the SUTA rates changes are made at the end of each year and there is...

Since the SUTA rates changes are made at the end of each year and there is much discussion about changes to the FUTA rate, the available 2017 rates were used for FUTA and SUTA. Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers.

Due to its experience rating, Ianelli, Inc., is required to pay unemployment taxes on its payroll as follows:

Under SUTA for New Mexico on taxable payroll of $28,000, the contribution rate is 3.9%.

Under SUTA for Colorado on taxable payroll of $23,000, the contribution rate is 8.95%.

Under SUTA for Utah on taxable payroll of $65,000, the contribution rate is 4.1%.

Under FUTA, the taxable payroll is $94,500.

Compute the following; round your answers to the nearest cent.

a. SUTA taxes paid to New Mexico	$_____________
b. SUTA taxes paid to Colorado	$_____________
c. SUTA taxes paid to Utah	$_____________
d. FUTA taxes paid	$_____________

Expert Solution

a. SUTA taxes paid to New Mexico	$28,000 * 0.039 = $ 1,092.00
b. SUTA taxes paid to Colorado	$ 23,000 * 0.0895 = $ 2058.50
c. SUTA taxes paid to Utah	$ 65,000 * 0.041 = $ 2,665.00
d. FUTA taxes paid	$ 94,500 * 0.006 = $ 567.00

ekkarill92 answered 2 years ago

Since the SUTA rates changes are made at the end of each year and there is...

Since the SUTA rates changes are made at the end of each year and there is much discussion about changes to the FUTA rate, the available 2017 rates were used for FUTA and SUTA. Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers. Example 5-7 Shu Company located in Arkansas had FUTA taxable wages of $130,000 and SUTA taxable wages (on first $12,000) were $210,000 with a 0.9 percent SUTA tax rate....

Since the SUTA rates changes are made at the end of each year and there is...

Since the SUTA rates changes are made at the end of each year and there is much discussion about changes to the FUTA rate, the available 2018 rates were used for FUTA and SUTA. Note: For this textbook edition the rate 0.6% was used for the net FUTA tax rate for employers. Example 5-8 The Iqbal Company of Georgia had a FUTA taxable payroll of $215,600 and a SUTA taxable payroll of $255,700 with a 5.6 percent SUTA tax rate....

Since the SUTA rates changes are made at the end of each year and there is...

Since the SUTA rates changes are made at the end of each year and there is much discussion about changes to the FUTA rate, the available 2017 rates were used for FUTA and SUTA. Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers. Example 5-1 Parlone Company has paid wages of $4,000 to an employee in State A. During the year, the employee is transferred to State B, which has a $7,000...

Since the SUTA rates changes are made at the end of each year and there is...

Since the SUTA rates changes are made at the end of each year and there is much discussion about changes to the FUTA rate, the available 2018 rates were used for FUTA and SUTA. Note: For this textbook edition the rate 0.6% was used for the net FUTA tax rate for employers. Example 5-1 Parlone Company has paid wages of $4,000 to an employee in State A. During the year, the employee is transferred to State B, which has a...

Since the SUTA rates changes are made at the end of each year and there is...

Since the SUTA rates changes are made at the end of each year and there is much discussion about changes to the FUTA rate, the available 2017 rates were used for FUTA and SUTA. Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers. Example 5-10 Applebaum Security Company is located in State H, which enables employers to reduce their contribution rates under the experience-rating system. From 2004 to 2013, inclusive, the company's...

Since the SUTA rates changes are made at the end of each year and there is...

Since the SUTA rates changes are made at the end of each year and there is much discussion about changes to the FUTA rate, the available 2017 rates were used for FUTA and SUTA. Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers. Example 5-4 Total taxable earnings $49,290.00 Net rate of tax (6.0% − 5.4%) × 0.6% Amount of net FUTA tax $295.74 Donner Company began its operations in September of...

Since the SUTA rates changes are made at the end of each year and there is...

Since the SUTA rates changes are made at the end of each year and there is much discussion about changes to the FUTA rate, the available 2017 rates were used for FUTA and SUTA. Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers. Example 5-5 Sutcliffe Company had taxable wages totaling $87,500 in 2018. During the year, the company paid some of its state contributions after the January 31, 2019, cutoff. The...

Since the SUTA rates changes are made at the end of each year and there is...

Since the SUTA rates changes are made at the end of each year and there is much discussion about changes to the FUTA rate, the available 2018 rates were used for FUTA and SUTA. Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers. Example 5-5 Sutcliffe Company had taxable wages totaling $87,500 in 2019. During the year, the company paid some of its state contributions after the January 31, 2020, cutoff. The...

Since the SUTA rates changes are made at the end of each year, the available 2019...

Since the SUTA rates changes are made at the end of each year, the available 2019 rates were used for FUTA and SUTA. Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers. Example 5-5 Sutcliffe Company had taxable wages totaling $87,500. During the year, the company paid some of its state contributions after the January 31 cutoff of the following year. The penalty for tardiness is shown in the following calculation of...

Since the SUTA rates changes are made at the end of each year, the available 2019...

Since the SUTA rates changes are made at the end of each year, the available 2019 rates were used for FUTA and SUTA. Note: For this textbook edition the rate 0.6% was used for the net FUTA tax rate for employers. Example 5-10 Karlson Software Company is located in State H, which enables employers to reduce their contribution rates under the experience-rating system. From 2006 to 2015, inclusive, the company's total contributions to state unemployment compensation amounted to $14,695. For...

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Since the SUTA rates changes are made at the end of each year and there is...

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