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Need Help with Calc - Almost There I think!

Question asked by dchabot on Mar 17, 2012
Latest reply on Mar 18, 2012 by dchabot

Greetings Everyone,


I need your help with a FUTA payroll tax report. I've got it working - to a point!

The picture below explains my problem.

FUTA.png

The futa tax should max at $56.00 but it doesn't.

 

Don't run away when you see my calcs below. I know it needs help!

 

FUTA Cal = Gross Pay*FUTA Rate

FUTA Excess = If ( Gross Pay YTD ≥ FUTA Max Wages ; Gross Pay YTD-FUTA Max Wages)

FUTA Excess Wages = If ( FUTA Max True=0;FUTA Excess ; 0)

FUTA Max = Round(FUTA Rate*FUTA Max Wages;2)

FUTA Max True = If(Gross Pay YTD > FUTA Max Wages;1;0)

FUTA Max Wages = Setup::Max FUTA Wages

FUTA Rate = Setup to::FUTA Tax%

FUTA Tax = Round(If(FUTA Max True;1;FUTA Cal);2)

FUTA Taxable = If (Gross Pay YTD ≤ FUTA Max Wages;FUTA Max Wages-Gross Pay YTD)

FUTA Taxable Wages = If ( FUTA Max True=1 ; 0 ; SumGross-SumFUTA Excess )

 

 

FUTA Tax Rate = .008 and Maximum Taxable wages is 7,000




Thanks so much!

Deb C.

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