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

question 43

Essay

Instruction 5-1
Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages.
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-Refer to Instruction 5-1.Stys Company's payroll for the year is $1,210,930.Of this amount,$510,710 is for wages paid in excess of $7,000 to each individual employee.The SUTA tax rate for the company is 3.2% on the first $7,000 of each employee's earnings.
a)The amount of FUTA tax for the year is __________.
b)The amount of SUTA tax for the year is __________.

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Definitions:

Experimental Group

The group in a scientific experiment that is exposed to the variable under investigation, to test its effect.

Medication

Substances used to treat or mitigate disease, manage symptoms, or promote health, typically administered with a therapeutic intent.

Informed Consent

The process by which individuals are fully informed about the procedures, risks, benefits, and alternatives of a treatment, study, or experiment, and voluntarily agree to participate.

Study Participants

are individuals who take part in research experiments or trials, providing data for scientific analysis.