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Old 04-02-2015, 08:36 PM
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Join Date: Apr 2015
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nanny taxes

Hello,

Question about nanny taxes, specifically paying state and federal unemployment tax. Can anyone please help me understand this:

"Generally, you can take a credit against your FUTA tax for amounts you paid into state unemployment funds. The credit may be as much as 5.4% of FUTA taxable wages. If you are entitled to the maximum 5.4% credit, the FUTA tax rate after credit is 0.6%."

Does this mean that if I pay the nanny's state unemployment tax, I can take a credit against the federal unemployment tax and it will become less than 6%?



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