Amazon Appliance Company has three installers. Larry earns $355 per week, Curly earns $430 per week, and Moe earns $560 per week. The company's SUTA rate is 5.4%, and the FUTA rate is 6% minus the SUTA. As usual, these taxes are paid on the first $7,000 of each employee's earnings.
A. How much SUTA and FUTA tax does Amazon owe for the first quarter of the year?
B. How much SUTA and FUTA tax does Amazon owe for the second quarter of the year?

A. SUTA = $929.07

FUTA = $103.23

B. SUTA = $204.93

FUTA = $22.77

Explanation:

A. First Quarter

52 weeks in a year.

Quarterly therefore there are,

= 52/4

= 13 weeks in a quarter.

In a quarter the employees makes the following,

Larry

= 355 * 13

= $4,615

Curly

= 430 * 13

= $5,590

Moe

= 560 * 13

= $7,280

SUTA Taxes are on first $7,000 so Moe will not pay full 5.4%.

SUTA Taxes

Larry

= 4,615 * 5.4%

= $249.21

Curly

= 5,590 * 5.4%

= $301.86

Moe

= 7,000 * 5.4%

= $378

In total for SUTA,

= 249.21 + 301.86 + 378

= $929.07

For FUTA

Tax is 6% - SUTA so,

= 6% - 5.4%

= 0.6%

Larry

= 4,615 * 0.6%

= $27.69

Curly

= 5,590 * 0.6%

= $33.54

Moe

= 7,000 * 0.6%

= $42

In total for FUTA,

= 27.69 + 33.54 + 42

= $103.23

B. Second Quarter.

Here bear in mind that Moe no longer has to be paid for as he has earned $7,000 in the first quarter.

This leaves just Larry and Curly who have already earned something in the first quarter which should be removed from $7,000 to find out how much they are to pay taxes on.

SUTA Taxes

First $7,000.

Larry has already been paid 4,615 leaving,

= 7,000 - 4,615

= $2,385 is the figure that SUTA and FUTA should be based on.

For Curly

= 7,000 - 5,590

= $1,410 is the figure that SUTA and FUTA should be based on.

Larry SUTA

= 2,385 * 5.4%

= $128.79

Curly SUTA

= 1,410 * 5.4%

= 76.14

Total for SUTA is,

= 128.79 + 76.14

= $204.93

Then FUTA using the same figures.

Larry FUTA

= 2,385 * 0.6%

= $14.31

Curly SUTA

= 1,410 * 0.6%

= $8.46

Total for FUTA is,

= 14.31 + 8.46

= $22.77

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