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Monthly tax calculation starting June and ended in May

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  1. #1
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    10-08-2015
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    Monthly tax calculation starting June and ended in May

    Hello,
    I would like to help on the Futa & Suta calculation for Fiscal year. Our payroll is started from June and ended in May. When I calculate the Futa tax it does not match with the actual tax because the Futa is based on the first $7000(it usually on the January payroll) and it will stop after that. But our payroll is based on the June. So when I compare the payroll tax b/w the actual and budget, we are way off because of Futa and Suta. Is there a formulas that can calculate the Futa and Suta base on Fiscal year end.

    Thank you for your help

    An
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  2. #2
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    01-31-2017
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    Corpus Christi, TX
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    Re: Monthly tax calculation starting June and ended in May

    Here is a FUTA SUTA spreadsheet I created. I used a similar one at a CPA office I used to work at. I hope it helps.
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