I do the books for my wife's LLC she just established in September 2019. It is taxed as an S-corp, she is the sole owner but also pays herself as an employee. She is the ONLY employee and owner and has been determined to be exempt from paying SUI in Iowa. How does her situation affect her requirement to pay FUTA or not? Can she be completely exempt or still has to pay?
@scottpenisten Great question, to get an answer you would need to speak to an agent from the IRS department. They will be able to give you information on FUTA exemption requirements. If your business tax status changes please let your payroll service know in order to update tax settings.