Federal Unemployment Tax Act

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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

According to College Accounting: A Practical Approach by Slater (13th edition)‎,

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.

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