For each of the following independent circumstances calculate both the FUTA and SUTA tax owed by...

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For each of the following independent circumstances calculate both the FUTA and SUTA tax owed by the employer: NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: An employer in The U.S. Virgin Islands employs two individuals, whose taxable earnings to date (prior to the current pay period) are $5,100 and $6,900. During the current pay period, these employees earn $1,700 and $2,650, respectively. The applicable SUTA tax rate is 1.5%, and the U.S. Virgin Islands SUTA threshold is $26,500. FUTA tax = $ SUTA tax = $ 2: An employer in Newark, New Jersey employs three individuals, whose taxable earnings to date (prior to the current pay period) are $26,900, $32,300, and $6,850. During the current pay period, these employees earn $3,200, $2,950, and $1,620, respectively. The applicable SUTA tax rate is 3.4%, and the New Jersey SUTA threshold is $34,400. FUTA tax = $ SUTA tax = $ 54.00 65.25 FUTA tax = $ SUTA tax = $ 3: An employer in Cincinnatti, Ohio employs two individuals, whose taxable earnings to date (prior to the current pay period) are $4,900 and $8,200. During the current pay period, these employees earn $2,800 and $1,900, respectively. The applicable SUTA tax rate is 2.5%, and the Ohio SUTA threshold is $9,500. 0.90 218.28 FUTA tax = $ SUTA tax = $ 12.60 102.50 4: An employer in Juneau, Alaska employs three individuals, whose taxable earnings to date (prior to the current pay period) are $36,000, $41,400, and $5,200. During the current pay period, these employees earn $3,600, $4,200, and $1,200, respectively. The applicable SUTA tax rate is 2.5%, and the Alaska SUTA threshold is $39,900. 7.20 120.00 For each of the following independent circumstances calculate both the FUTA and SUTA tax owed by the employer: NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. 1: An employer in The U.S. Virgin Islands employs two individuals, whose taxable earnings to date (prior to the current pay period) are $5,100 and $6,900. During the current pay period, these employees earn $1,700 and $2,650, respectively. The applicable SUTA tax rate is 1.5%, and the U.S. Virgin Islands SUTA threshold is $26,500. FUTA tax = $ SUTA tax = $ 2: An employer in Newark, New Jersey employs three individuals, whose taxable earnings to date (prior to the current pay period) are $26,900, $32,300, and $6,850. During the current pay period, these employees earn $3,200, $2,950, and $1,620, respectively. The applicable SUTA tax rate is 3.4%, and the New Jersey SUTA threshold is $34,400. FUTA tax = $ SUTA tax = $ 54.00 65.25 FUTA tax = $ SUTA tax = $ 3: An employer in Cincinnatti, Ohio employs two individuals, whose taxable earnings to date (prior to the current pay period) are $4,900 and $8,200. During the current pay period, these employees earn $2,800 and $1,900, respectively. The applicable SUTA tax rate is 2.5%, and the Ohio SUTA threshold is $9,500. 0.90 218.28 FUTA tax = $ SUTA tax = $ 12.60 102.50 4: An employer in Juneau, Alaska employs three individuals, whose taxable earnings to date (prior to the current pay period) are $36,000, $41,400, and $5,200. During the current pay period, these employees earn $3,600, $4,200, and $1,200, respectively. The applicable SUTA tax rate is 2.5%, and the Alaska SUTA threshold is $39,900. 7.20 120.00

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1 US Virgin Islands Taxable earnings to date 5100 6900 12000 Taxable earnings in the current pay per... View the full answer