Q: Complete Part 2 of Form 940 based on the following information: (Round your answers to two decimal places, if necessary.) Total payroll for the year...........................................................$913,590
Complete Part 2 of Form 940 based on the following information: (Round your answers to two decimal places, if necessary.)
Total payroll for the year...........................................................$913,590
Payroll to employees in excess of $7,000...............................$421,930
Employer contributions into employees' 401(k) plans............$23,710
Determine your FUTA tax before adjustments for 20--. If any line does NOT apply, leave it blank.
3 Total payments to all employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..........3
4 Payments exempt from FUTA tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................4
Select:
5 Total of payments made to each employee in excess of $7,000. . . . . .........................5
6 Subtotal (line 4 + line 5 = line 6). . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . ...........6
7 Total taxable FUTA wages (line 3 – line 6 = line 7). . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
8 FUTA tax before adjustments (line 7 x .006 = line 8) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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