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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.
Prior to 1 April 2015, a lower rate was in place for small profits (broadly up to GBP 1.5 million). From 1 April 2015, this rate is unified with the main rate of corporation tax into a single rate of 20% for all profits.Where the taxable profits can be attributed to the exploitation of patents, a lower effective rate of tax applies. For 2015/16, the rate is 12%, reducing to 10% from 1 April 2017. non-resident company is subject to UK corporation tax only on the trading profits of a UK PE. Any other UK-source income received by a non-resident company is subject to UK income tax at the basic rate, currently 20%, without any allowances (subject to any relief offered by a double tax treaty [DTT], if applicable).