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What does FUTA and SUTA stand for? |
I remember printing out reports for them on the company's assets last year at my last job. I know FUTA stands for Federal something and SUTA means State FUTA is federal unemployment tax. This is assessed on the employer and is based on your first $7,000 in wages. SUTA is state unemployment tax. Depending on the state, generally it is also assessed on the employer, although your state may have an employee portion. |
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