What is part 3 in Form 940 represent?
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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.
