Federal Unemployment Tax Act (FUTA)

GPTKB entity

Predicate	Object
gptkbp:instanceOf	gptkb:United_States_federal_law
gptkbp:abbreviation	gptkb:FUTA
gptkbp:administeredBy	gptkb:Internal_Revenue_Service
gptkbp:amendedBy	various subsequent acts
gptkbp:appliesTo	gptkb:United_States employers
gptkbp:category	gptkb:Tax_law_in_the_United_States
gptkbp:codifiedIn	gptkb:26_U.S.C._§_3301_et_seq.
gptkbp:creditReduction	up to 5.4% for state unemployment taxes
gptkbp:dateEnacted	1939
gptkbp:enactedBy	gptkb:United_States_Congress
gptkbp:fundedBy	federal unemployment insurance
https://www.w3.org/2000/01/rdf-schema#label	Federal Unemployment Tax Act (FUTA)
gptkbp:provides	funding for state workforce agencies
gptkbp:purpose	fund unemployment compensation
gptkbp:rating	6.0% (before credits)
gptkbp:relatedTo	gptkb:State_Unemployment_Tax_Act_(SUTA)
gptkbp:requires	employers to file Form 940
gptkbp:supports	unemployment benefits
gptkbp:taxableWageBase	first $7,000 of each employee's wages
gptkbp:taxStatus	payroll tax
gptkbp:bfsParent	gptkb:IRS_Form_940 gptkb:Form_940
gptkbp:bfsLayer	6