FUTA Need to Know
The Standard FUTA credit of 5.4% is reduced if your state has not repaid loans fromt he federal unemployment fund.
- Michigan Employers lost 0.9% of the credit.
- Indiana Employers lost 0.6%
- These States lost 0.3%: AR, CA, ST, FL, GA, IL, KY, MN, MO, NC, NJ, NV, NY, OH, PA, RI, VA, VI, and WI.
FUTA-taxtable wage base $7,000
FUTA rate 1.1.11-6.30.11, 6.2% as of 7.1.11 6.0%
FUTA Max. Credit 5.4%
Min. FUTA dep. rate 1.1.11-6.1.11, 0.8% as of 7.1.11 0.6%
----Less if your state has 2011 FUTA credit reduction. (See Form 940)
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This information is reprinted from The General Ledger. Vol. 28, No. 12. December, 2011.