Federal unemployment tax (FUTA)

GPTKB entity

Predicate	Object
gptkbp:instanceOf	gptkb:United_States_federal_law
gptkbp:abbreviation	gptkb:FUTA
gptkbp:administeredBy	gptkb:Internal_Revenue_Service
gptkbp:appliesTo	employers wages paid to employees
gptkbp:codifiedIn	gptkb:Internal_Revenue_Code
gptkbp:codifiedSection	26 U.S.C. § 3301
gptkbp:compatibleWith	self-employed individuals
gptkbp:country	gptkb:United_States
gptkbp:creditReduction	up to 5.4% credit for state unemployment taxes
gptkbp:effectiveTaxRate	0.6% after maximum credit
gptkbp:enactedBy	gptkb:United_States_Congress
gptkbp:established	1939
gptkbp:frequency	annual reporting
gptkbp:fundedBy	gptkb:Federal_Unemployment_Trust_Fund
gptkbp:purpose	fund unemployment compensation
gptkbp:relatedTo	State unemployment tax
gptkbp:reportsTo	gptkb:IRS_Form_940
gptkbp:taxableWageBase	$7,000 per employee per year
gptkbp:taxStatus	6.0%
gptkbp:usedFor	paying unemployment benefits
gptkbp:bfsParent	gptkb:Schedule_H
gptkbp:bfsLayer	7
http://www.w3.org/2000/01/rdf-schema#label	Federal unemployment tax (FUTA)