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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 rates. The basic rate of Part. tax is 38% of your taxable income, 28% after federal tax abatement. After the general tax reduction, the net tax rate is: 1  15% effective January 1, 2012. 2  16.5% effective January 1, 2011.he basic rate of Part. tax is 38% of your taxable income, 28% after federal tax abatement. After the general tax reduction, the net tax rate is: 1  15% effective January 1, 2012. 2  16.5% effective January 1, 2011.