"/>
corner image

Selected state is

rybolov-kirici.ru header image
rybolov-kirici.ru tagline rybolov-kirici.ru Financial Institutions PEO - Employee Leasing

Is a FUTA Return Required for the Owner of an S Corporation?

Federal Unemployment Tax is due each year for every company that has W-2 wage employees. The taxes you deposit for FUTA allows the federal government to assist state unemployment agencies with extra funding for unemployment compensation claims. As the owner of an S-corporation, you are required to pay FUTA taxes for yourself, based on Internal Revenue Service compensation laws.

How to Calculate
Employee
Payroll Checks »

Instructions and
a list of things you'll need.

Owner Compensation

As a working owner of an S-corporation, you must receive a wage from your company. This is required for all corporate officers who perform services for the company, regardless of the percentage of business owned. Wages are subject to state and federal unemployment tax, even if you are the only employee of the S-corporation. The IRS has an annual wage limit of $7,000 per employee subject to federal unemployment. If you earn more than this amount from your S-corporation, only the first $7,000 will be taxed. Wage limits for FUTA do not extend to any other sources of income you derive from the S-corporation, including distributions, dividends and shareholder loan repayments.

Related Articles

• Is a FUTA Return Required for the Owner of an S Corporation»

• How to calculate 1040-ES taxes»

• How to calculate FICA-OASDI taxes»

Try our Payroll Calculators - It's Free!

Please note: Our explanation that are provided on our web site for "How to Calculate Futa and Suta taxes" are only meant to provide general guidance and estimates about the payroll process. They should not be relied upon to calculate exact taxes, payroll or other financial data. You should consult with a professional advisor or accountant regarding your specific payroll concerns.


To speak with an Online Payroll expert call • or contact us by email.

Learn more about managing your business | Independent Contractor | Employee Handbook Information | Acronyms for Payroll | Workers Compensation


Related pages


fica tax rate 2014nc state unemployment tax ratetaxes in california paycheckpayroll tax calculator nynet pay calculator oklahomaarizona hourly wagecalifornia deductions from wagesbonus tax calculator georgiacalculating a paycheckpayroll witholding calculatorhow much is minimum wage in atlanta georgiaidaho tax calculatorincome tax in california calculatorsalary calculator california hourlyhourly income calculatorhourly paycheck calculator mntaxes calculator for paychecktake home pay calculator azhow to calculate paycheck deductionshow is a bonus taxednyc food tax calculatorcalculate paycheck californiageorgia tax bracketswv withholding formnet pay calcfree printable payroll stubsw2 calculator 2014take home salary calculator floridacalculate tax albertaoregon income tax ratescra tax deduction tableswhat is a oasdi taxmaryland payroll calculatorhow to calculate sutafederal income tax withheld calculatortn state income tax ratesouth dakota unemployment taxphiladelphia income tax calculatoreftps.gocarkansas state tax withholdingcalculate biweekly paycheck after taxesohio state tax calculatorcalculate salary from hourly ratetaxes for 1099 contractors calculatorfl payroll tax calculator401k texaspeoples bank old greenwich ctnew jersey state withholdingca payroll calculatorus bank parleys waycolorado payroll tax calculatorstate of new jersey employee salarieskentucky unemployment calculatornc state and federal tax calculator602-683-1000payroll bonus tax calculatortax rate for bonuses calculatorgross up wages calculatorchicago paycheck calculatorpaycheck hourly calculatorhow much money is taxed from my paycheckwages subject to futasalaries in vermontpaycheck calculator flhourly paycheck calculator michiganpayroll calculation in excel sheetsalary calculator monthlycalculate taxes from paycheckstate of nevada pay gradesfederal deductions on paycheckpayroll tax rate californiasalary deduction calculatorfree tax payroll calculatorfederal unemployment tax ratesunemployment calculator oklahomahourly pay after taxesyearly hourly wage calculatorhourly wage calculationfederal withholding calculator 2015nys taxes calculatoradp payment calculatoradp payroll estimatorform 941 payment voucherincome tax in kentucky