Reporting and Deposit Requirements for Agricultural Employers. Note: The article above is for educational purposes only. Weekly benefit amounts are also increased 6.5%. Once an employee makes $7,000 in gross wages for the year that's it. Also, FUTA has a much lower wage base than FICA taxes at just $7,000 per employee. Often, when your business pays state unemployment tax, your FUTA tax rate is reduced. We have not reviewed all available products or offers. In 2023, this rises to $160,200. in issuing 2022 SUI tax rate information and notices. Ex: States who asked for loans in 2020 have until November 10, 2022 to repay the entire loan amount. A FUTA credit reduction state is a state that borrowed money from the trust fund but failed to repay those funds by the due date. Contract workersthose who receive a Form 1099-NECare not considered employees.. Virgin Islands is yet to repay its loan balance, so employers in this jurisdiction are potentially subject to a reduction in FUTA. . Maintaining 2020 annual taxable wage base limits. This article currently has 61 ratings with an average of 4.5 stars. So, in the example above, you wouldnt need to make a FUTA deposit yet. In 2019, legislation (HB 198) froze the taxable wage base at $16,500 for 2020 (under the bill language from July 1, 2019 to October 29, 2020) so that the Division of Unemployment Insurance and the Unemployment Compensation Advisory Council could determine whether the formula used to calculate the annual figure should be revised. The employer may receive an additional credit if it has an experience rate lower than 5.4% (0.054). Includes all the Supporting Forms Schedule-A,8453-EMP, & 940-V. These taxes fund the federal governments oversight of the unemployment program in all 50 states. Your email address will not be published. FUTA. Best Homeowners Insurance for New Construction, How to Get Discounts on Homeowners Insurance. The tax rate for new employers is to be 3.4%. Average Quarterly. FUTA joined the Social Security Act of 1935 to create a suite of economic security programs that buoy individuals and the U.S. economy during hard times. For a list of legal holidays, see Chapter 11 in Publication 15, (Circular E), Employer's Tax Guide. If your FUTA tax liability is more than $500 for the calendar year, you must deposit at least one quarterly payment. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. Review ourcookie policyfor more information. If you're on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience. But if you paid an employee $6,000, you pay 6.0% of $6,000 in FUTA. You had one or more employees for at least some part of a day in any 20 or more different weeks in 2021 or 20 or more different weeks in 2022. Tax : Employee Rate : Employer Rate : Limit : Social Security: 6.2%: 6.2%: $147,000: Medicare: 1.45%: 1.45%: No limit: Additional Medicare.9%: 0.00%: Begins once . Paying taxes, including federal income tax, social security tax, and Medicare tax, is an obligation youll need to fulfill again and again often on a monthly, quarterly, and yearly basis. In some states, wages paid to corporate officers or payments for fringe benefits may not be subject to SUTA tax, but may be subject to FUTA. You can request an extension of up to 90 days in writing; however, this is an extension to file the form and it is not an extension of the time to pay the tax due. If you classify as an employee to your S-Corporation, your business must pay FUTA tax on your wages. Additional information for household employers is available in Publication 926, Household Employers Tax Guide and Topic No. The Department of Labor makes an announcement at the end of each year with the list of states that are eligible to receive the full 5.4% tax credit on FUTA tax. $13,000 X 0.006 = $78 FUTA Liability for Q1. This results in the minimum amount of FUTA tax of $42 per employee. HB 413 would also have frozen the rate schedule to Schedule A and taxable wage base to $10,800 for calendar year 2022; however, Governor Andy Beshear line-item vetoed the provisions that extended the UI tax relief to calendar year 2022, saying that the state should wait and see until 2022 because "the Commonwealth's financial situation is fluid." The Federal Unemployment Tax Act came into law after the worst recession the U.S. had ever seen, where unemployment spiked to unprecedented levels. Variable Contribution Rates. You had one or more employees for at least some part of a day in any 20 or more different weeks in 2021 or 20 or more different weeks in 2022. Some businesses are exempt from FUTA, at least for certain employees. 2023 - 123PayStubs.com, Once an employer is eligible to receive a reduced tax rate, the tax rate is determined annually based on experience. Furthermore, employers who pay state unemployment taxes will likely be eligible for a 5.4% federal tax credit. Temporary, part-time, and full-time employees count. CFOs can look to tax functions to help navigate economic uncertainty, Select your location Close country language switcher. Self-employed individuals arent typically subject to FUTA. The FUTA tax applies to the first $7,000 of wages paid to each employee throughout the year. This $7,000 is known as the taxable wage base. Most employers pay both a federal (FUTA) and a state unemployment tax. The state where your business files taxes is not a credit reduction state. Generally, federal law provides employers with a 5.4 percent FUTA tax credit toward the 6.0 percent regular tax when they file their Employer's Annual Federal Unemployment (FUTA) Tax Return (Form 940). For the household employers and agricultural employerstests, see Chapter 14 in Publication 15, (Circular E), Employers Tax Guide. In 2022, the Social Security tax rate is 6.2% for employers and employees, unchanged from 2021. How the great supply chain reset is unfolding. Employers fund federal unemployment through a FUTA payroll tax. This is an increase over the normal FUTA payment of $42 for each employee who earns . Know your quarterly average gross payroll (AGP). Maximum Tax Rate for 2023 is 6.23 percent. IRS Announces 2022 Limits for HSAs and High-Deductible Health Plans, SHRM Online, May 2021. Luckily, FUTA taxes aren't as high as FICA tax and the rate is just 6%. If your business is required to pay FUTA tax, you will pay FUTA taxes quarterly (unless the amount is less than $500, see below) plus youll file an annual Federal Unemployment Tax Act report using IRS Form 940. For 2022, there are 7 states (including the Virgin Islands) that have had outstanding Title XII advances on January 1, 2021 and January 1, 2022. A comparison of income tax rates and ranges for 2021 and 2020 follows below. And theres one more wrinkle to consider. Refer to Publication 966, Electronic Federal Tax Payment System, A Guide to Getting StartedPDF for electronic federal tax payment system information, and Publication 15 for more information on deposit rules. Legislation passed in 2021 (SB 89/Act 91) requires that the taxable wage base remains at $7,700 for 2022. Count all full-time, part-time, and temporary employees. Most employers must also pay SUTA taxes (thanks to the State Unemployment Tax Act). Wage and Tax Statements (Form W-3) 1 . This ratio is multiplied by 0.68 to yield the Employer's Reserve Ratio . SUTA tax rate and wage base 2023. Legislation enacted in 2016 (SB 235) increased the SUI taxable wage base to $9,500 for calendar years 2018 and 2019. SUTA rates range from 0.85% - 8.65% for 2023. The reader should contact his or her attorney, CPA, or tax professional prior to taking any action based upon this information. Copyright, Trademark and Patent Information, Youve paid employees $1,500 or more in any quarter of the year, Youve had one or more employees working at least 20 weeks during the year, even if theyre part-time or temporary employees and worked part of a day, The wages of your children under 21 if youre their employer. The FUTA tax rate protection for 2021 is 6% as per the IRS standards. 129 S Main St, #260, Grapevine, TX 76051, United States, 11845 W Olympic Blvd, West Tower, 11th Floor, Los Angeles, CA 90064, United States, Copyright 2023 Paystubsnow.com, LLC All Rights Reserved. (The Tax Cuts and Jobs Act suspended their exclusion.) Unemployment benefits can keep employees whove lost their jobs on their feet while they seek new work. Please refer to your advisors for specific advice. Employee SUI withholding rate is 0.56% on wages up to $45,200, Employee SUI withholding rate is 0.425% on wages up to $39,800, Employee SUI withholding 0.06% on total wages. Share of the federal government cost of unemployment programs with all the states. Also, this tax can be offset by SUTA tax payments . This means, instead of getting credit for 5.4% of the 6% tax due, employers in those states would receive a credit of only 5.1% instead. thanks very much on the update ( even though nothing has changed for this year ), Information is collected in accordance with our, Copyright 2022 Nav Technologies, Inc. All Rights Reserved, California loans arranged pursuant to Department of Financial Protection & Innovation Lenders License 60DBO-98588. If you have only a few full-time employees or many part-time employees, you might not collect $500 in FUTA taxes in one year. If a business pays wages subject to unemployment tax in a credit reduction state, your business may not be eligible for the full credit against your FUTA tax rate. In 2022, the Medicare tax rate for employers and employees is 1.45% of all wages, unchanged . So if a business owner paid 5 employees in excess of $7,000 per year it would owe approximately $2,100 in total FUTA tax. TBD: 2022 wage base was not available as of the time of this printing. However, FUTA and SUTA tax rates and wage base amounts may not be the same. Once your FUTA tax liability for a quarter (including any FUTA tax carried forward from an earlier quarter), is more than $500, you must deposit the tax by electronic funds transfer. The FUTA tax rate for 2022 and 2023 is 6%. An official website of the United States Government. Form 940 The FUTA tax applies to the first $7,000 in wages you pay an employee throughout the calendar year. Discover how EY insights and services are helping to reframe the future of your industry. B US employment ta rates and limits for 2021 . Your Unemployment Insurance (UI) and Employment Training Tax (ETT rates are combined on the Notice of Contribution Rates and Statement of UI Reserve Account (DE 2088). Usually, your business receives a tax credit of up to 5.4% from the federal government when it pays its state unemployment tax, effectively reducing the FUTA rate to 0.6%. The FICA tax rate, a combination of the Social Security (6.2%) and Medicare (1.45%) rates, remains at a total of 7.65% in 2022. For any amount of wages exceeding $7,000, the FUTA tax doesn't apply. (Email response to inquiry, 9-27-2021.). (For 2021, it's $12,550 for single filers and $25,100 for married couples filing . However, don't include any wages paid by the predecessor employer on your Form 940 unless you're a successor employer. The taxable wage base is expected to continue to increase by $300 each calendar year until it reaches $12,000. Additionally, positive-rated employers and . The taxable wage base will continue to increase as follows: 2022 $12,000; 2023 $12,300; 2024 $12,500; 2025 $12,800; 2026 $13,000; for each year thereafter, computed as 16% of the state's average annual wage. Note: The 20 weeks dont have to be consecutive. Employee 3 has $37,100 in eligible FUTA wages, but FUTA applies only to the first $7,000 of each employees income. However, there are additional factors that may affect the FUTA tax calculation. When this happens, the Department of Labor generally steps in and names the state a credit reduction state for FUTA taxes. Add the total gross wages for all employees in any quarter and divide by 4. Federal Unemployment Taxes 2022 & 2023: What Are FUTA Taxes and How to Calculate Them, The 5 Best Banks for Small Business Loans in 2022, Publication 15-B (2023), Employers Tax Guide to Fringe Benefits. (for returns required to be filed in 2022) Filed/corrected On or after On or before Penalty Maximum Maximum small employer The employers in these states may have to pay more unemployment taxes for each employee unless the state has repaid its loan. Failure to pay FUTA taxes can lead to significant penalties, including fines and even criminal charges. This field displays the flat tax limit and can only be viewed. Reviews Disclosure: The responses below are not provided or commissioned by the credit card, financing and service companies that appear on this site. 2. The IRS publishes details of the taxability of fringe benefits in Publication 15-B (2023), Employers Tax Guide to Fringe Benefits. We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. If the trust fund balance is over $1 billion on December 31, the taxable wage base is $7,000. If you're required to make a deposit on a day that's not a business day, the deposit is considered timely if you make it by the close of the next business day. | Terms of Use Based on these rates, this hypothetical $50,000 earner owes $6,617, which is an effective tax rate of about 13.2%. The 2021 SUI taxable wage base increased to $9,500 for all employers, up from the $9,000 that had been in effect for the past several years for non-delinquent employers ($9,500 was assigned to delinquent employers). Under Tennessee UI law, if the UI trust fund balance on December 31 of any year is less than $900 million, the taxable wage base is $9,000. You must manage FUTA taxes in two ways deposit the tax each quarter (if required) and file an annual form. The FUTA tax rate is a flat 6% but is reduced to just 0.6% if it's paid on time. Save my name, email, and website in this browser for the next time I comment. However, Virgin island employers must pay 2.4% to the government since this territory owes the US government money. With the mass unemployment that resulted from the COVID-19 pandemic, many states have had to borrow from the Federal government in order to pay unemployment benefits. ( SSA Press Release, 10/13/2022) For 2023, the FICA tax rate for both employers and employees is 7.65% (6.2% for OASDI and 1.45% for Medicare). If I'm on Disability, Can I Still Get a Loan? These credit reductions are made from the regular credit reduction of 5.4%. If . Deposit your FUTA tax by the last day of the month after the end of the quarter. This means that an employers federal unemployment payroll tax liability is equal to 0.6 % on the first $7,000 paid per worker; however, state unemployment taxes are due as well. FUTA funded a program that compensates those who lose their jobs due to layoffs, and sometimes firings. For each employer in California, that results in an . Keep records of these calculations to ensure that no interest is charged to you for underpayment of estimated tax because you deposited too little money during the year. Take note that a person that is part of your workforce is considered as an employee if they are engaged in service to you, and its for your business (or trade), whether its full or part-time. The UI agency announced that the taxable wage base of $9,500 will continue for 2022. For 2022, as in 2021, unemployment tax rates for experienced employers are to be determined with Schedule F+ and are to range from 1.5% to 6.2%. If the tax is calculated using rates from a table instead of a flat rate . Employees who worked any part of a day count. $7,000 . You may choose to add FUTA taxes paid for an employee in their pay stubs. For details, see "Successor employer" in the Instructions for Form 940. A payroll software or service can help you save time, reduce errors, boost security and stay compliant. The taxable wage base reverted to $9,000 effective January 1, 2020 and will remain at that amount unless changed by future legislation. Breaking down further, if an employee starts making a gross of $7000 per year, the employer shall . This was because Michigan's UI trust fund balance fell below $2.5 billion on June 30, 2020. A credit of up to 5.4 percent for state unemployment taxes can reduce the FUTA tax owed by employers on their payroll, but only if you are subject to state or local unemployment taxes. Our experts love this top pick,which featuresa0% intro APRuntil 2024, an insane cash back rate of up to 5%, and all somehow for no annual fee. Continue carrying your tax liability forward until your cumulative FUTA tax liability is more than $500. Note: If the FUTA tax liability of your business for a quarter is less than $500, theres no need to deposit taxes at the end of the quarter. Let's break down the limits and how to calculate it. Use Tax Rates and Limits to view flat tax rates for federal, state, and local taxes. Typically, employers must deposit their FUTA tax liability to the U.S. Treasury through the Electronic Federal Tax Payment System (EFTPS) or by filling out and mailing in a paper form (Form 940-V). States include the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Start with their gross pay -- their total salary or wages before deductions and taxes -- and subtract: Lets say you have three employees -- two part-time and one full-time -- with the following earnings for the year: The FUTA tax liability is based on $17,600 of employee earnings ($4,900 + $5,700 + $7,000). Starting Jan. 1, 2023, the maximum earnings subject to the Social Security payroll tax will increase by nearly 9 percent to $160,200up from the $147,000 maximum for 2022, the Social Security . Experience Rating: Maximum 8.90%. The 2022 Employee rate is 0.56%. FUTA tax rate: The FUTA tax rate is 6.0%. The first $7,000 for each employee will be the taxable wage base limit for FUTA. For the 2022 tax year, you must file Form 940 no later than January 31, 2023 unless you deposited all FUTA tax when due, in which case you have until February 10, 2022 to file Form 940. The FUTA tax rate as of 2022 is 6% of the first $7,000 of each employee's wages during the calendar year. Federal tax rates apply only to taxable income. SUTA tax rates will vary for each state. HR Support From Abacus Payroll: Check out our HR Help Center for $11/month . The current taxable wage base that Arkansas employers are required by law to pay unemployment insurance tax on is seven thousand dollars ($7,000) per employee per calendar year. Reporting and Filing. In 2020, legislation (SB 55/Act 40) provided that the SUI taxable wage base remained at $7,700 for 2021. Tax rates for experienced employers continue to range from 0.06% to 5.76%. The Total Rate = Employer Rate + Employee Rate. Limit. Once an employees year to date gross earning reaches $7,000 for the year, then the employer can stop paying FUTA tax. If you do your own payroll and need to report these taxes yourself, have a record of your businesss payroll in front of you. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. Usually, the FUTA tax payments are due by the end of the last month following the end of the quarter. (Chapter 177.) Page Last Reviewed or Updated: 08-Feb-2023, Request for Taxpayer Identification Number (TIN) and Certification, Employers engaged in a trade or business who pay compensation, Electronic Federal Tax Payment System (EFTPS), Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return, Publication 15, (Circular E), Employers Tax Guide, Publication 926, Household Employers Tax Guide, Publication 51, (Circular A), Agricultural Employers Tax Guide, Topic No. The credit reduction states for 2023 will be announced November 10, 2023. The State Unemployment Tax Act (SUTA) is essentially FUTA on the state level. Updated Aug. 5, 2022 - First published on May 18, 2022. The Social Security Act of 1935 had administered unemployment benefits until FUTA was enacted in 1939. The 2022 SUI taxable wage base will be $17,000, then $20,400 in 2023; $23,800 in 2024; and $27,200 in 2025. However, many employers receive a credit of 5.4% because they have paid state unemployment tax (SUTA) taxes on time. Businesses contribute to federal unemployment through a payroll tax. Back to the FUTA Tax calculation. Small business owners have numerous tax obligations, and if your business has employees . This payroll tax is typically imposed on employers, not employees, and varies by industry and location. For Quarter 3 (July to September), the FUTA Tax Payment is due by October 31. Your FUTA tax liability after the credit will be 0.6% of the first $7,000 each employee earns. EY is a global leader in assurance, consulting, strategy and transactions, and tax services. To calculate your businesss FUTA tax liability, determine your employees wages subject to FUTA tax. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. According to the IRS, the standard FUTA tax rate is 6%. In brief, the unemployment tax system works as follows: Employers pay into the system, based on a percentage of total employee wages. The tax liability for Q3 is below the FUTA tax limit by $10. Fringe-benefit inflation adjustments and Form W-2 penalties for 2021. FUTA Tax per employee = (Taxable Wage Base Limit) x (FUTA Tax Rate). What is the 2022-2023 FUTA Tax Rate? What are the tax rates and taxable wage base? The Federal Income Contributions Act (FICA) is the federal law that created the payroll tax that funds Social Security and Medicare. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. Comment * document.getElementById("comment").setAttribute( "id", "ae158e54b67c1cb6deddb4aa28fcfe1b" );document.getElementById("h09971f2bf").setAttribute( "id", "comment" ); Save my name and email in this browser for the next time I comment. Absent this legislation, and due to the continuing effect on the state's UI trust fund of the COVID-19 pandemic, the SUI wage base could have increased to $11,000 or $12,000 for 2022. What is the FUTA tax rate for 2022? In the above example, if John is paid wages in a credit reduction state lets say New York the employer will not get the full 5.4% credit on his wages for 2022. * Law sets the taxable wage base; legislation would be necessary to change. Your state wage base may be different based on the respective states rules. The federal minimum wage rate per hour for 2022 is $7.25, . Heres a breakdown of how to calculate your quarterly FUTA liability in this scenario: As mentioned before, the IRS allows you to carry over your FUTA payment to the next quarter if your FUTA tax is $500 or less. The Instructions for Form 940 include a detailed list of these fringe advantages. FUTA Tax Rates and Taxable Wage Base Limit for 2022. The 2022 FUTA wage limit of $7,000 has remained unchanged since 1983, despite increases in the federal minimum wage and annual cost-of-living adjustments over the last 36 years. News You must use Schedule A (Form 940) if you paid wages to employees in more than one state or if you paid wages in any state that's subject to credit reduction. Illinois. However, you can carry over your FUTA tax liability to the next quarter if it is less than $500. The Tennessee UI trust fund balance as of November 30, 2021, was $1,119,103,499. Employee 3 has $37,100 in eligible FUTA wages, but FUTA applies only to the first $7,000 of each . Legislation from 2017 grants the territory's Secretary of Labor the discretion to increase the taxable wage base to as much as $10,500 if deemed necessary. Use our research to quickly and easily find the right accounting solution for your business. (Check with your individual state taxing authority in any state where you pay employee wages for details about SUTA rate and wage base requirements.). ), A preliminary look at the 2022 state unemployment taxable wage bases. In 1938, people lined up to receive unemployment benefits. Form 940 has you enter information about the state unemployment taxes paid to show that you qualify for the 5.4% tax credit. In this case, your answer would be $120.00 ($15,500 x 0.07 = 930). Employers are liable for unemployment tax in Virginia if they are currently liable for Federal Unemployment Tax. 4 January 31, 2022 January 31, 2022 February 28, 2022 Paychex 2021 Tax Bulletin SUI or FUTA Exempt Employees If you had employees who were exempt for state unemployment insurance (SUI) or federal Some states are conservative in their approach to maintaining adequate SUI trust fund reserves. As Barry's employer, you remit $150 of SUTA taxes at the end of March and $60 at . Agricultural, Domestic, and 501C3 Non-Profit employers have different thresholds . The FUTA tax rate for 2022 and 2023 is 6%. Employers are responsible for paying 6% of the first $7,000 of each employee's wages. Your email address will not be published. The FUTA tax applies to the first $7,000 of wages paid to each employee throughout the year. The tax only applies to this first $7,000. Or is it impossible to be 0? In 2013, legislation (HB 168) increased the SUI taxable wage base to a minimum of $10,500 and a maximum of $18,500 by linking the wage limit to the balance of the state's unemployment trust fund. As a result, many states currently have outstanding loans to the government that will result in higher FUTA taxes being paid by employers in those states in 2023. As such, XYZ Sample Company's FUTA tax due on each employee's wages paid in 2022 would be $42 ($7,000 x 0.6%), or a total of $4,200 ($42 x 100). With only three months remaining for federal fiscal year (FFY) 2022, our 2023 IRS limits forecast will most likely set the record for a one-year increase, in terms of both dollars and percentage, even if inflation transitions to 3.0% annually (0.25% per month) for July through September 2022. In our final 2022 edition ofUS employment tax rates and limitsyou will find, as of December 16, 2022, the following: See also our previous year publications: US employment tax rates and limits for 2021, US employment tax rates and limits for 2020andUS employment tax rates and limits for 2019. You can pay extras to employees in addition to their income or earnings, such as the cost of meals or housing, some relocation charges, health plans, group life insurance benefits, or 401ks. Required fields are marked *. For Quarter 2 (April to June), the FUTA Tax Payment is due by July 31. Fringe-benefit inflation adjustments and Form W-2 penalties for 2022. Your email address will not be published. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. The 2022 FUTA wage limit of $7,000 has remained unchanged since 1983, despite increases in the federal minimum wage and annual cost-of-living adjustments over the last 36 years. FUTA Tax per employee = (Taxable Wage Base Limit) x (FUTA Tax Rate). . . (This was especially true during the pandemic.) The company must remit the FUTA tax liability by January 31 st of the following month. However, if you deposited all FUTA tax when due, you have until February 10 to file. tax rates and limits for 2021 Preliminary as of May 3, 2021. Legislation from 2019 (LB 428) increases the SUI taxable wage base to $24,000 for employers assigned the maximum rate. Any Canadians earning less than $53,359 in taxable income . Employer rate. For 2011 and 2012, the OASDI tax rate is reduced by 2 percentage points for employees and for self-employed workers, resulting in a 4.2 percent effective tax rate for employees and a 10.4 percent effective tax rate for self-employed workers. 2020 FUTA credit reduction 10 State unemployment insurance wage base limits 11 . It was raised to 62.5 for the remainder . The long-term success of your business depends in part on your ability to pay your taxes on time, or to hire someone reliable to help make sure it gets done. 760, Reporting and Deposit Requirements for Agricultural Employers. Rate Class. Tax Withholding Estimator: Calculating Taxable Income Using Exemptions and Deductions. States are required to maintain an SUI taxable wage base of no less than the limit set under the Federal Unemployment Tax Act (FUTA). There is an additional 0.9% surtax . Most businesses also have to comply with their state's State Unemployment Tax Act (SUTA), which coordinates with the federal tax. , with a taxable wage base of $7,000 (per employee) or taxable wages up to $7,000. Take note that a person that is part of your workforce is considered as an employee if they are engaged in service to you, and its for your business (or trade), whether its full or part-time. If your FUTA tax liability for the fourth quarter (plus any undeposited amounts from earlier quarters) is $500 or less, you can either deposit the amount or pay the tax with your Form 940 by January 31.
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