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What is the net futa tax

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Reference no: EM132075818

Question - Cowen Company began is operations in August of the current year. During Aug and Sept, the company paid wages of $2,450. For the last quarter of the year, the taxable wages paid amounted to $3,900. None of the employees were paid more than $ 7,000 this year.

A. Is Cowen Company liable for the FUTA tax this year? Explain?

B. What is the net FUTA tax?

Reference no: EM132075818

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