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Compute the amount of credit the company would receive

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Reference no: EM132993224

Peroni Company paid wages of $171,100 this year. Of this amount, $105,800 was taxable for the net FUTA and SUTA purposes. The State's contribution tax is 3.1% for Peroni Company. Due to cash flow problems, the company did not make any SUTA payments until after the Form 940 filing date.

Problem 1: Compute the following; round your answers to the nearest cent.

A) Amount of credit the company would receive against the FUTA tax for its SUTA contributions
B) Amount that peroni company would pay to the federal government for its FUTA tax
C) Amount that the company lost because of its late payments

Reference no: EM132993224

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