Complete Part 2 of Form 940 based on the following information: (Round your answers to two decimal places, if necessary.) Total payroll for the year $913,590 Payroll to employees in excess of $7,000...


Complete Part 2 of Form 940 based on the following information:(Round your answers to two decimal places, if necessary.)

















Total payroll for the year$913,590
Payroll to employees in excess of $7,000$421,930
Employer contributions into employees' 401(k) plans$23,710














































Part 2:

Determine your FUTA tax before adjustments. If any line does NOT apply, leave it blank.

3

Total payments to all employees

3 fill in the blank 1

4
Payments exempt fromFUTA tax
4 fill in the blank 2
Select:

5

Total of payments made to each employee in excess of $7,000

5 fill in the blank 4

6

Subtotal (line 4 + line 5 = line 6)

6 fill in the blank 5

7
Total taxableFUTA wages (line 3 – line 6 = line 7)
7 fill in the blank 6

8

FUTA tax before adjustments (line 7 x .006 = line 8)

8 fill in the blank 7


b.If the employer is located in California, which has a credit reduction of 2.1%, what would be the amount of the credit reduction?
$fill in the blank 8



c.Complete Part 5 of Form 940 for the California employer given the breakdown of FUTA taxable wages for the year to be:

























1st quarter$237,000
2nd quarter$168,000
3rd quarter$54,000
4th quarter$8,950
Yearly Total$467,950

The employer paid their SUTA on-time.Round your answers to two decimal places, if necessary.







































Part 5:

Report your FUTA tax liability by quarter only if line 12 is more than $500. If not, go to Part 6.

16

Report the amount of your FUTA tax liability for each quarter; do NOT enter the amount you deposited. If you had no liability for a quarter, leave the line blank.

16a 1st quarter (January 1 – March 31)

16a fill in the blank 9

16b 2nd quarter (April 1 – June 30)

16b fill in the blank 10

16c 3rd quarter (July 1 – September 30)

16c fill in the blank 11

16d 4th quarter (October 1 – December 31)

16d fill in the blank 12

17

Total tax liability for the year (lines 16a + 16b + 16c + 16d = line 17)

17   fill in the blank 13Total must equal line 12.
Jun 10, 2022
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