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12by8 12by8 is offline
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Default Formula in a cell to calc FUTA tax

OK, here we go

Column headings to spreadsheet a gross wages, fed wthldng, soc.sec.,
medi., state wthldng, total for taxes, net pay. All are totaled at
bottom(eoy); each row represents a pay period. Separate columns calc. futa
and suta per pay period with totals at bottom(eoy).

Implemented formulae with gross wages being $2750. First two pay periods
calc fine at $22 for futa, with total futa of $44. Great! Issues arises in
third period at $2750 when all $22 calcs change to $12 (the actual amount for
period 3 (22+22+12=56). Total FUTA stays at 56, which is right, but issue is
created bcz pay period formula can't keep running total of previous pay
periods g.w. despite A1 reference.

I'll tinker s'more. Your formulae are invaluable and are 99% there. I
shoulda taken a logic class in college. I don't disagree that 940
instructions aren't consistent with P.15 and, yes, the 'ostensible' comment
relates.

Thanks so much.

R.Roy
12by8


"joeu2004" wrote:

Improvement....

On Nov 15, 7:46 pm, I wrote:
For FUTA Per Period:
=round(0.8%*min(n(A2), max(0, 7000-A1+A2)), 2)
[....]
The above formulas can result in an off-by-some-pennies
error due to periodic rounding.


I think the following avoids that problem, albeit more complicated:

=min(round(A2*0.8%, 2), max(0, 56-round((A1-A2)*0.8%, 2)))