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Instruction 5-1 Use the Net FUTA Tax Rate of 0.6% on the 0.6

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Instruction 5-1
Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages.
Refer to Instruction 5-1 . Michael Mirer worked for Dawson Company for six months this year and earned $11,200. The other six months he earned $6,900 working for McBride Company (a separate company). The amount of FUTA taxes to be paid on Mirer's wages by the two companies is: Instruction 5-1  Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages.  Refer to Instruction 5-1 . Michael Mirer worked for Dawson Company for six months this year and earned $11,200. The other six months he earned $6,900 working for McBride Company (a separate company). The amount of FUTA taxes to be paid on Mirer's wages by the two companies is:


Definitions:

Government Planning

The process by which governments set objectives, develop strategies, and outline activities to achieve public policy goals.

Interlocking Directorates

Are formed when an individual sits on the board of directors of two or more noncompeting companies.

Board of Directors

A group of individuals elected to represent shareholders and make decisions on major company issues, including corporate policies and strategic goals.

Non-Competing

Pertaining to elements or entities that do not engage in competition against each other, either within markets or sports.

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