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I read your link and listed it below Yours is referring to being a partner or owner (of an sch business ) when you are a shareholder, so look at last paragraph and link with it as you are. The $7,000 is often referred to as the federal or futa wage base Your state wage base may be different based on the respective state’s rules However, you may be able to take a. For each of the following independent circumstances, calculate both the futa and suta tax owed by the employer For simplicity, all calculations throughout this exercise, both. In schedule c for line number 23, can i deduct full payroll tax or i have to enter just the employer portion of the taxes? Futa is a payroll tax owed by the employee and reported annually which of the following statements is true regarding federal unemployment tax (futa) Multiple choice futa is a. Futa is a requirement for. The futa rate in kentucky for 2024 is 0.6 percent on the first $7,000 of employee wages, and the suta rate is 5.4 percent with a wage base of $11,400. The futa rate in kentucky for 2022 is 0.6 percent on the first $7,000 of employee wages, and the suta rate is 5.4 percent with a wage base of $11,100 Use the percentage method in appendix c. Business accounting accounting questions and answers transaction no 33 complete form 940, employer's federal unemployment (futa) tax return & federal deposit information worksheet,.