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Small Business Taxes For Beginners

door | apr 19, 2022 | Bookkeeping

When your business pays SUTA taxes on time and files IRS Form 940, you might qualify for a 5.4% tax credit, reducing your effective FUTA rate to 0.6%. Since Textiles and Textiles paid SUTA taxes on time, the business’s FUTA liability for Matt’s first paycheck of the...