As mentioned above, the current rate on FUTA is 6.0 percent, though that only applies to the first $7,000 of each employee's wage. In other words, a company with one employee pays $420, regardless of how much that employee makes over $7,000. A company with two employees pays $840, a company with four employees pays $1,680, etc. If an employee makes less than $7,000 annually — say, in a temporary or part-time position — then their total salary is used to calculate the amount owed.
However, thanks to business tax credits, most employers end up paying a 0.6 percent rate when all is said and done (assuming they've paid their state unemployment taxes). During the pandemic, certain additional credits became available to employers for keeping their employees on payroll. FUTA taxes are filed quarterly, unless the total amount owed comes out to less than $500 per year.
Remember, as complex and annoying as they can seem, taxes don't have to be scary. It's just a matter of staying on top of the details. And in tough times, taxes like FUTA can help keep the country functioning.