|
Not Yet Registered?
You can have access to our in-depth exclusive content on NQDC in just a few clicks.
|
Acronym for Federal Unemployment Tax Act, whose purpose is to help fund unemployment benefits. FUTA tax is imposed on employers rather than employees, and it applies to the first $7,000 of wages paid. Unlike Social Security and Medicare (FICA) taxes, FUTA is therefore not withheld from an employee’s income.