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CPP 5-1(#1) Calculate and Record Employer Payroll Taxes Calculate employer's total FUTA and...

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Accounting

CPP 5-1(#1) Calculate and Record Employer Payroll Taxes
Calculate employer's total FUTA and SUTA tax. As TCLH Industries operates in North Carolina, assume a SUTA tax rate of 1.2% and a taxable earnings threshold of $26,000. Current period taxable earnings for FUTA and SUTA taxes are the same as those for FICA taxes. Year-to-date taxable earnings for FUTA and SUTA taxes, prior to the current pay period, are as follows:
Zachary Fox: $0
Calvin Bell: $20,478.57
David Alexander: $198,450
Michael Sierra: $117,600

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