Answer Happy

For each of the following independent circumstances calculate
both the FUTA and SUTA tax owed by the employer:

NOTE: For simplicity, all calculations
throughout this exercise, both intermediate and final, should be
rounded to two decimal places at each calculation.
1:An employer in The U.S. Virgin Islands employs two
individuals, whose taxable earnings to date (prior to the current
pay period) are $5,100 and $6,900. During the current pay period,
these employees earn $1,700 and $2,650, respectively. The
applicable SUTA tax rate is 1.5%, and the U.S. Virgin Islands SUTA
threshold is $28,900.

FUTA tax = $
SUTA tax = $
2:An employer in Newark, New Jersey employs three individuals,
whose taxable earnings to date (prior to the current pay period)
are $27,800, $33,200, and $6,850. During the current pay period,
these employees earn $3,200, $2,950, and $1,620, respectively. The
applicable SUTA tax rate is 3.4%, and the New Jersey SUTA threshold
is $35,300.

FUTA tax = $
SUTA tax = $
3:An employer in Cincinnatti, Ohio employs two individuals,
whose taxable earnings to date (prior to the current pay period)
are $4,900 and $7,700. During the current pay period, these
employees earn $2,800 and $1,900, respectively. The applicable SUTA
tax rate is 2.5%, and the Ohio SUTA threshold is $9,000.

FUTA tax = $
SUTA tax = $
4:An employer in Juneau, Alaska employs three individuals, whose
taxable earnings to date (prior to the current pay period) are
$37,600, $43,000, and $5,200. During the current pay period, these
employees earn $3,600, $4,200, and $1,200, respectively. The
applicable SUTA tax rate is 2.5%, and the Alaska SUTA threshold is
$41,500.

FUTA tax = $
SUTA tax = $