Howard Murphy is the owner of Stormy Banana Films in West Hollywood, California, Stormy Banana...
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Howard Murphy is the owner of Stormy Banana Films in West Hollywood, California, Stormy Banana Films had 15 employees with total annual wages of $222,750 (no one exceeded the Medicare tax surcharge or Social Security cap). The FUTA rate for California in 2019 is 2.2 percent because it is a credit reduction state. Stormy Banana Films has a SUTA rate of 3.2 percent for 2019 with a wage base of $7,000. Required: Compute the following employer taxes. (Round your answers to 2 decimal places.) Answer is complete but not entirely correct. Social Security tax Medicare tax FUTA lax SUTA tax $ 13,810.50 $ 3,229.86 S 4,900.50 X $ 7,128.00 X Howard Murphy is the owner of Stormy Banana Films in West Hollywood, California, Stormy Banana Films had 15 employees with total annual wages of $222,750 (no one exceeded the Medicare tax surcharge or Social Security cap). The FUTA rate for California in 2019 is 2.2 percent because it is a credit reduction state. Stormy Banana Films has a SUTA rate of 3.2 percent for 2019 with a wage base of $7,000. Required: Compute the following employer taxes. (Round your answers to 2 decimal places.) Answer is complete but not entirely correct. Social Security tax Medicare tax FUTA lax SUTA tax $ 13,810.50 $ 3,229.86 S 4,900.50 X $ 7,128.00 X
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