Storm Murphy is the owner of Stormy Banana Films in West Hollywood, California. Stormy Banana Films had
Question:
Storm Murphy is the owner of Stormy Banana Films in West Hollywood, California. Stormy Banana Films had 15 employees with total annual wages of $214,750 (no one exceeded the Medicare tax surcharge or Social Security cap). The FUTA rate for California in 2022 is 0.6 percent. Stormy Banana Films has a SUTA rate of 3.2 percent for 2022 with a wage base of $7,000. Compute the following employer taxes:
Social Security tax: _____
Medicare tax: _____
FUTA tax: _____
SUTA tax:_____
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To calculate the employer taxes for Stormy Banana Films we need to determine the amount of wages sub...View the full answer
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