Question: A state charges a basic SUTA tax rate of 5.4 percent. Because of an excellent experience rating, an employer in the state has to pay

A state charges a basic SUTA tax rate of 5.4 percent. Because of an excellent experience rating, an employer in the state has to pay only 1.0 percent of the taxable payroll as state tax. What is the percentage to be used in computing the credit against the federal unemployment tax?

Step by Step Solution

★★★★★

3.47 Rating (163 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Under the experience rating system the state tax rate may b... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

318-B-A-P (714).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

Certain transactions and procedures relating to federal and state unemployment taxes follow for Fashion Sense, a retail store owned by Nancy Roberts. The firms address is 2007 Trendsetter Lane,...

Certain transactions and procedures relating to federal and state unemployment taxes are given below for The Game Wizard, a retail store owned by Helen Kim. The firms address is 4560 LBJ Freeway,...

Certain transactions and procedures relating to federal and state unemployment taxes follow for Fancy Nancy LLC, a retail store owned by Nancy Roberts. The firm's address is 2007 Trendsetter Lane,...

16. A state charges a basic SUTA tax rate of 5.4 percent. Because of an excellent experience rating, an employer in the state has to pay only 1.0 percent of the taxable payroll as state tax. What is...

Ann hires a nanny to watch her two children while she works at a local hospital. She pays the 19-year-old- nanny $165 per week for 46 weeks during the current year. b. What is the nannys portion of...

Required information The following information applies to the questions displayed below) Certain transactions and procedures relating to federal and state unemployment taxes follow for Robin's Nest...

Thank u guys:) This is the reference pages but the questions are the last 3 pictures . . . . Craft - Mason Wage rate VET $29.00 Hours worked 50 hours per week for 20 weeks and 40 hours per week for...

Federal & State Unemployment Taxes Learning Objective 3 : Compute the federal unemployment tax, the credit against the tax, and any credit reductions that might apply. The employer pays to the state...

Certain transactions and procedures relating to federal and state unemployment taxes follow for Fancy Nancy LLC, a retail store owned by Nancy Roberts. The firm's address is 2007 Trendsetter Lane,...

Kevin is an employee of One Hour Dry Cleaners, Inc. All employees of One Hour are eligible for a 40 percent discount on their dry cleaning. During the year, Kevin paid $300 for cleaning that normally...

U.S. market share for smartphones with larger screens is increasing. As of the first quarter of 2011, smartphones with screens 4 inches or larger had captured 24 percent of the smartphone market. The...

Pregnancies and the 689599.7 rule. The length of human pregnancies from conception to birth varies according to a distribution that is approximately Normal with mean 266 days and standard deviation...

Which of the following statements is true? a. Deflation is an increase in the general level of prices. b. The consumer price index (CPI) measures changes in the average prices of consumer goods and...

Red Hot Company issued and has outstanding 100,000 shares of $10 par-value common stock and 5,000 shares of $50 par-value 6 percent preferred stock. The board of directors votes to distribute $10,000...

Florida Corporation has only one class of stock. There are 200,000 shares outstanding. During 20X1, the corporations net income after taxes was $800,000. The policy of the corporation is to declare...

The accounting system of Great Harvest Healthy Foods includes the journals listed below. Indicate the specific journal in which each of the transactions listed below would be recorded. Journal Cash...

Powder Mountain (PM) ski resort is currently using a Skidata barcode ticketing system. PM purchased the system three years ago for $1 million. The system includes barcode scanners and point-of-sale...

Microbiotics currently sells all of its frozen dinners cash on delivery but believes it can increase sales by offering supermarkets 1 month of free credit. The price per carton is $90, and the cost...

2.1.3 Question Help A frequency table of grades has five classes (A, B, C, D, F) with frequencies of 3, 15, 18, 6, and 2 @ respectively. Using percentages, what are the relative frequencies of the...