SUTA rate for Westcoast Publishers is given as 5.4% and its FUTA rate is 6.2% less the 5.4% SUTA credit. If its monthly payroll is $281,666 and none was for payments to employees in excess of $7,000 wage base, then find total FUTA and SUTA taxes for payroll?
Last monthly payroll of Coastal Advertising was $145,188 for 74 employees. Of total, $94,350 was for payments to employees in excess of $7,000 wage base. Find total FUTA and SUTA taxes for payroll? Company's SUTA rate is 5.4% and FUTA rate is given as 6.2% less 5.4% SUTA credit.