For example, California’s SUTA tax rate range for 2024 is 1.5% to 6.2%, while Colorado’s range is 0.75% to 10.39%. The tax rate for your company will be within your state’s range but depends on an assessment of your company. Your experience rating is part of that assessment. ...
Taxable Wage Base (2024)$7,000$12,500$9,000 New Employee Tax Rate3.4%2.025% – 9.825% (tax rate range)2.7% EarningsFor employees earning $40,000 annuallyAssuming a mid-tax rate of 5%For employee earning $40,000 annually SUTA Tax$7,000 x 0.034 = $238/employee$12,500 x 0.05 = $...
The FUTA tax rate is 6.0%. The tax applies to the first $7,000 you paid to each employee as wages during the year. 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. ...
When you register as an employer, your state will generally tell you what your SUTA tax rate is. Many states give new employers a standard new employer SUTA rate. The new employer SUI rate is different in each state. Once you gain more experience as an employer, your state will assign ...
The FUTA tax rate of 6.2 percent was slated to decrease to 6.0 percent after 2007 but was extended. Check IRS Publication 15 (Circular E) to find the current rate. Also, although the $7,000 earnings limit on SUTA/FUTA tax has been constant for some years, it is subject to change, so...
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