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Computing the tax. The FUTA tax is imposed at a single flat rate on the first $7,000 of wages that you pay each employee. Once an employee's wages for the calendar year exceed $7,000, you have no further FUTA liability for that employee for the year. The FUTA tax rate is 6 percent. That is the tax rate that applies to the first $7,000 in wages paid to each of your employees during the year. Credit for state unemployment taxes. You can generally claim credits against your gross FUTA tax to reflect the state unemployment taxes you pay.
Federal tax rates for 2015. 1  15% on the first $44,701 of taxable income, +. 2  22% on the next $44,700 of taxable income (on the portion of taxable income over $44,701 up to $89,401), +.3  26% on the next $49,185 of taxable income (on the portion of taxable income over $89,401 up to $138,586), +.ax rates for previous years. Federal and provincial/territorial tax rates for previous years. You can find the federal tax rates on Schedule 1 and the provincial/territorial tax rates on Form 428 of the General Income Tax and Benefit Package.