FUTA

(redirected from Federal Unemployment Tax Act)
Also found in: Financial, Wikipedia.
AcronymDefinition
FUTAFederal Unemployment Tax Act (US)
FUTAFederal University of Technology Akure (Akure, Nigeria)
FUTASouthwest Fire Use Training Academy (Albuquerque, NM; est. 1998)
References in periodicals archive ?
Another problematic area for PEOs and their clients involves the ceiling on the annual wage base subject to Federal Insurance Contributions Act (FICA) and Federal Unemployment Tax Act (FUTA) taxes.
That ruling stated that (1) bona fide members of a partnership are not employees of the partnership for purposes of the Federal Insurance Contributions Act, the Federal Unemployment Tax Act, and income tax withholding, and (2) a partner who devotes time and energy in conducting the partnership's trade or business, or who provides services to the partnership as an independent contractor, is considered self-employed and is not an employee.
The employer contributions are not "wages" and are not subject to withholding for Federal Insurance Contributions Act (FICA), federal income taxes, or Federal Unemployment Tax Act (FUTA) purposes.
Other laws may affect your recordkeeping responsibilities, including the Occupational Safety and Health Act, the Employee Retirement Income Security Act, the Health Insurance Portability and Accountability Act, the Federal Unemployment Tax Act and the Federal Insurance Contributions Act.
Under the Federal Unemployment Tax Act, the federal government levies an unemployment tax on employers to finance administrative costs of the system, fund loans to states during economic downturns, and cover extended benefits.
Options to improve state UI trust fund financial conditions include raising and indexing the taxable wage base under the Federal Unemployment Tax Act (FUTA), which could induce many states to raise and index their own bases, and reducing the number of both employers paying very low rates and those that pay less in UI taxes than benefits paid to their former workers.
5 percent and extend the Federal Unemployment Tax Act surcharge until June 30, 2011.
During another brutal economic environment--the Great Depression--Congress enacted the Federal Unemployment Tax Act in 1935.
1, the Internal Revenue Service says employers will be required to make Federal Unemployment Tax Act (FUTA) deposits only if their accumulated tax exceeds $500.
Another law, the Federal Unemployment Tax Act (FUTA) imposes a tax on employers who employed one or more persons in "covered" employment.
Differential payments clearly constitute income under section 61 of the Internal Revenue Code and would appear to be "wages" for purposes of federal income tax withholding (FITW), Federal Insurance Contributions Act (FICA) taxes, and Federal Unemployment Tax Act (FUTA) taxes, because the benefits are being provided based on the employee's past employment relationship with the civilian employer.
Full browser ?