SUTA and SITW: are paid by employees only are subject to different rules/rates for every state...

SUTA and SITW: are paid by employees only are subject to different rules/rates for every state are paid by employers only are subject to the same rules/rate for every state are paid by both employers and employees

Expert Solution

Yes both SUTA and SITW are subject to diffrent rules for every state are paid by employers/employee to understand this first we need to know what is the basic diffrences between suta & sITw which is mentioned below

The State Unemployment Tax Act, better known as SUTA, is a form of payroll tax that all states require employers to pay for their employees. SUTA is a counterpart to FUTA, the federal unemployment insurance program. Like the federal unemployment insurance program, the state unemployment insurance sets a limit to the wages taxed. This is known as a taxable wage base. The taxable wage base varies from state to state.

State Income Tax Withholding. Requests to withhold State Income Tax from your retired pay must be made in writing. DFAS can only withhold income tax for one state at a time and the designated state must have signed the standard written SITWagreement with the Department of Defense (DOD).

ekkarill92 answered 1 year ago

There are specific rules that apply to issuing and completing the Record of Employment (ROE) for commission employees who are paid by commission only.

Please build your answer based on following study book text: Block 6 – Pay period type The pay period type for commission employees is always reported as weekly on the ROE, regardless of the actual pay period type used. Block 12 – Final pay period ending date The final pay period ending date should be the Saturday of the week in which the last day for which paid, reported in Block 11, occurs. Block 15B Insurable Earnings As a commission...

Different Rates for Different Jobs In cases where an employee is paid different rates for different...

Different Rates for Different Jobs In cases where an employee is paid different rates for different jobs during the same workweek, the employers can, at their option, calculate the overtime in one of three ways: Higher Rate for Overtime Hours, Based on Actual Hours Worked, or Rate after the 40th Hour. Using the hours and rates for Eli Employee, Example's son, his gross wages are computed below using the three different methods. Eli makes $14.75 per hour for Job A...

the dividends are paid at the beginning of every quarter, and the quarterly grow rates are...

the dividends are paid at the beginning of every quarter, and the quarterly grow rates are estimated to be 30%, 25%, 20%, 15% per quarter for the first quarters respectively, and stay constant as 5% thereafter. The effective quarterly interest rate is 10% per quarter. you are on dec 31st today and the next dividends shareholders are just about to receive is $1. what is the expected stock price at the end of 15 years in the future?

Fallow Corporation is subject to tax only in State X. State income taxes are not deductible...

Fallow Corporation is subject to tax only in State X. State income taxes are not deductible for State X income tax purposes. Fallow generated the following income and deductions: Sales $4,000,000 Cost of sales 2,800,000 State X income tax expense 200,000 Depreciation allowed for Federal tax purposes 400,000 Depreciation allowed for state tax purposes 250,000 Interest income on Federal obligations 40,000 Interest income on State X obligations 30,000 Expenses related to carrying State X obligations 2,000 a. The starting point...

The company wages expense is paid every 20. With a total of 20 casual employees, the...

The company wages expense is paid every 20. With a total of 20 casual employees, the daily wage expense is Rp.4,000,000. Wages for working days after the 20th, paid on the 20th of the following month. The remaining workdays after payment of wages on October 20 are 6 days. Make adjusting entries to be made for the preparation of the monthly financial statements as of October 31, 2015 for the transaction!

Big State U charges in-state and out-of-state students different tuition rates. In-state students pay $2,000 a...

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Suppose the MyBook.org company has three other employees of different roles. Alice: only need to retrieve...

Suppose the MyBook.org company has three other employees of different roles. Alice: only need to retrieve book names from the database Bob: need to insert book names into the database Cob: needs to know the basic information of the table, such as the status of the table, when it was created, etc, but doesn't need to see the content in the table. Q6: Should the company grant the same permissions to them? Briefly explain why.

From “Different Rates” Section: Quid Pro Quo moves $1,500,000 installments, every three months, into a tax...

From “Different Rates” Section: Quid Pro Quo moves $1,500,000 installments, every three months, into a tax haven account for the past six years, where it earns interest on a quarterly basis. The first eight installments earned a nominal rate of 5%, the next eight installments earned a nominal rate of 8%, and the last eight installments earned a nominal rate of 12%. What is the current value of the account? Show work.

Widmer Company had gross wages of $320,000 during the week ended June 17. The amount of wages subject to social security tax was $320,000, while the amount of wages subject to federal and state unemployment taxes was $48,000. Tax rates are as follows:

Payroll Entries Widmer Company had gross wages of $320,000 during the week ended June 17. The amount of wages subject to social security tax was $320,000, while the amount of wages subject to federal and state unemployment taxes was $48,000. Tax rates are as follows: Social security 6.0% Medicare 1.5% 5.4% State unemployment Federal unemployment 0.8% The total amount withheld from employee wages for federal taxes was $64,000. If an amount box does not require an entry, leave it blank. a. Journalize the entry to record...

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