Posted: September 18th, 2017

Income Tax Fundamentals

Income Tax Fundamentals
Madea Company has the following employees on the payroll:

Employee Marital Semimonthly
Name Status Payroll

Amal S $4,000
Migal M $5,000
Byron S $4,600
Hiroko M $6,500

Witholding Allowance
1
3
2
4

Using the Information Above:

A: Calculate the FUTA tax liability for 2013. Assume that Madea Company has paid all amounts due during the year.

B. If the payroll is consistent from quarter to quarter, how much would be remitted in FUTA taxes in each of the four quarters in 2013?

 

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