Reference no: EM133051291

Question - For each of the following independent circumstances, calculate the FUTA tax owed by the employer.

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 Hartford, Connecticut, employs two individuals, whose taxable earnings to date (prior to the current pay period) are $4,900 and $7,950. During the current pay period, these employees earn $975 and $1,250, respectively.

2: An employer in Jacksonville, Florida, employs three individuals, whose taxable earnings to date (prior to the current pay period) are $71,250, $23,500, and $6,650. During the current pay period, these employees earn $2,020, $2,975, and $965, respectively.

3: An employer in Wilmington, Delaware, employs two individuals, whose taxable earnings to date (prior to the current pay period) are $1,950 and $7,120. During the current pay period, these employees earn $995 and $2,500, respectively.

4: An employer in Akron, Ohio, employs three individuals, whose taxable earnings to date (prior to the current pay period) are $6,000, $8,500, and $5,400. During the current pay period, these employees earn $725, $1,225, and $3,900, respectively.