ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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FEDERAL UNEMPLOYMENT TAX ACT Definition
FEDERAL UNEMPLOYMENT TAX ACT (FUTA) is a U.S, federal law providing guidelines for the unemployment compensation system. A Federal tax is paid by all liable employers to fund the administration of Federal and State unemployment insurance programs and the extended benefits program. FUTA provides for payments of unemployment compensation to workers who have lost their jobs. Most employers pay both a federal and a state unemployment tax.
Learn new Accounting Terms
NARRATIVE, in accounting, is a written description of an internal control system.
MANAGEMENT is those in charge of running a business or in the act of managing something.