Federal Unemployment Tax Act

Federal Unemployment Tax Act (FUTA) is a tax paid by employers to the United States Federal Government. The current rate is 0.6% on the first $7,000 of earnings of each employee after the normal FUTA tax credit is applied.

Definitions

Federal Unemployment Tax Act (FUTA). A tax paid by employers to the federal government. The current rate is 0.6% on the first $7,000 of earnings of each employee after the normal FUTA tax credit is applied.

Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.