USA Unemployment Tax Credit

[albalma]

Hello,

We received a credit for SUTA (state unemployment tax) and I would like to know your thoughts on how to book it. I can think of at least 3 ways to book for this but is there like a common practice?

Thank you!

 

[Kat Maple]

Hi albalma,

Record this as a credit to the account where you post state unemployment tax expense when you post payroll entries.

Regards,

Kat