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State Unemployment Credit
A tax credit offered to employers by the state, related to unemployment insurance payments.
FUTA Purposes
Relates to the Federal Unemployment Tax Act, which imposes a payroll tax on businesses to fund state workforce agencies.
Federal Income Tax
This is a tax levied by the U.S. federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.
Withholding Allowances
Claims made on an employee's W-4 form that determine the amount of federal income tax withheld from their paycheck.
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