Federal unemployment tax or FUTA is a payroll tax that is paid by the employer only. In other words the payroll tax is based on employee wages but is not withheld from employee pay but taken form the employer. Employer only payroll taxes are often less understood because most people have less experience with them… Continue reading Federal Unemployment Tax Act Calculation (FUTA)-Payroll Tax Calculations FUTA
Tag: FUTA
FUTA, SUTA Workers Compensation – Financial Accounting
We will discuss Fedural Unemployment Tax Act FUTA and State Unemployment Tax Act SUTA. We discuss these two payroll accounting acts together because they are closely related. Although the states have their own write to create taxes for their state the federal FUTA law uses state SUTA as part of the federal calculation. For more… Continue reading FUTA, SUTA Workers Compensation – Financial Accounting