SUTA
State Unemployed Tax Act
Example
Since I don't have to pay a SUTA rate in my state, I think I have to pay the whole 6% FUTA rate
Related Slang
| FUTA | Federal Unemployment Tax Act |
| FICA | Federal Insurance Contributions Act |
| IRS | Internal Revenue Service |
| ITR | Income Tax Return |
| EBT | Earnings before taxes |
Are you financially literate?
A tax acronym that refers to the tax paid by the employer on the state level to fund the state unemployment insurance system; similar to FUTA but occurs on the state level instead of the federal level; tax rate is determined by the state.