Asked by
mackenzie griffith
on Nov 15, 2024
Verified
A FUTA tax credit:
A) is given to employers who pay their state unemployment taxes on time.
B) is usually in the amount of 5.4%
C) is applied against the 6.0% standard rate.
D) All of the above are correct.
FUTA Tax Credit
A credit against Federal Unemployment Tax Act (FUTA) tax liability that employers can claim for amounts paid into state unemployment funds.
- Learn the purpose and statutes of federal and state unemployment taxes in the management of employer payroll tasks.
- Identify ways employers can reduce federal unemployment tax rates.
Verified Answer
KS
Learning Objectives
- Learn the purpose and statutes of federal and state unemployment taxes in the management of employer payroll tasks.
- Identify ways employers can reduce federal unemployment tax rates.
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