how much does futa tax cost?
As mentioned before, paying a few taxes is solely the employerâs responsibility. The FUTA rate is 6.0%, but a credit of up to 5.4% for SUI taxes can be taken. If eligible for a maximum credit, the FUTA rate will be 0.6%. The wage base for FUTA is $7,000. Payments to FUTA cease for each employee whose wages exceed $7,000 for the year. The SUI tax rate is based on unemployment claim activity by employees who have been terminated.