What is part 3 in Form 940 represent?
528 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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