What is part 3 in Form 940 represent?
496 views |Last modified 11/8/2023 6:21:24 AM EST | Added by TaxBandits Team

Applicable To
94X 1099 W-2 ACA W-4

The part 3 in Form 940 requires you to specify whether:

  • If all your total taxable FUTA wages (Line 7) were exempt from state unemployment tax, multiply the amount in Line 7 by 0.054, and enter it as Line 9.
  • Line 10 must be completed if only some of the taxable FUTA wages paid were exempt from state unemployment tax or if you paid any state unemployment tax late.
  • If you completed Schedule A of Form 940 for wages paid in a credit reduction state, enter the total from Schedule A on Line 11.

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