If All Wages Were Excluded from SUTA Taxes, but Were

question 63

True/False

If all wages were excluded from SUTA taxes, but were subjected to FUTA, the FUTA tax rate would be 6.0%.

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Definitions:

Supplies Used

The cost of consumables used in the operation of a business during an accounting period.

Total Liability

The combined amount of debts and obligations that a company owes to outside parties.

Total Expenses

The total amount of money spent by a business during a specific period, including both fixed and variable costs.

Total Assets

The sum of all assets owned by a company, including current, fixed, and intangible assets, reflecting the total resources it has at its disposal.